Tesla passes $100 billion, teeing up big payout for Musk

The meteoric rise of Tesla shares that recently pushed the company's value over $100 billion could turn into a supercharged payday for CEO Elon Musk.

Stock in Tesla Inc. rose 4.1% Wednesday, pushing the market value of the electric vehicle and solar panel maker past a critical milestone in Musk's pay package.

He could get a stock options package worth over $371 million.

Tesla shares closed at $569.56 on Wednesday, giving the company a market capitalization of $102.7 billion.

Shares have tripled in value since May, meaning Tesla's market capitalization now exceeds the value of Ford and General Motors, combined.

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