Elon Musk has exercised the full 2018 Tesla CEO compensation award, securing 303,960,630 shares for an approximate $116 billion paper gain according to an SEC filing. No shares were sold during the transaction and the acquired stock remains restricted until 2028.
All shares acquired through the award stay restricted until 2028.
At prevailing valuations the award creates major unrealized value while avoiding an immediate tax obligation that would arise from a sale.
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Elon Musk said Tesla will have to return Cybertruck deposits for a lot of people, and that the order rate far exceeds production.
Elon Musk said on X that SpaceX "closed $40B of debt for GPUs," adding that the company is investment grade and has Starlink and launch revenue, while debt markets have "almost entirely shut off" for companies without substantial revenue independent of AI data centers. In a follow-up reply, Musk said it is "primarily callable debt for GPU purchases that will arrive in Q1 and Q2" and "not a major factor this quarter." Musk did not name lenders or terms. Reuters, the FT, CNBC, Semafor and Bloomberg had earlier reported, citing unnamed sources, that SpaceX was arranging about $40 billion of debt for Nvidia chips, with Apollo and Goldman Sachs reported to be leading.
SpaceX bought $151 million in Tesla Megapack purchases during the third quarter in its latest 10-Q filing. The purchases bring the company's year-to-date total to $480 million.
Tesla is building its own maps to fix recurring FSD problems with speed limits, parking, and routes. The change reverses the company's prior stance that map-dependent systems are brittle.
Tesla says its unsupervised Robotaxi fleet has driven more than 3.3 million miles with no injuries, airbag deployments or pedestrian strikes, according to its new Robotaxi Safety Report. Tesla also lists Las Vegas, Jacksonville, Phoenix and San Antonio as coming soon.
