Model 3 has a 499 kilometer range, 0-100 km/h acceleration in 3.5 seconds and our most refined design and engineering ever. (Tesla)

Tesla is now the first publicly listed U.S. automaker to cross $100bn in market valuation, more than Ford and GM combined.

If Musk can keep the stock market value at above $100bn on average over the next six months, he will be entitled to the first of up to 12 stock payouts, worth around $350m each.

The pay deal is staggered so that he receives further awards for every $50bn Tesla increases in stock market value, up to a maximum of $50bn in shares if the company achieves a valuation of $650bn by 2028.

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