Hertie School of Governance

Musk's $1tn award costs Tesla holders a seventh of the market value he must create

Getting Tesla from $1.43tn to $8.5tn means adding $7.07tn. A $1tn option package against that gap works out to 14.1 cents of every new dollar - cheap if it buys a million robotaxis, expensive if it merely buys an executive's attention.