By Noel Randewich

(Reuters) – The Tesla stock market surge of Monday’s above $1 trillion is a double bonus for Elon Musk, Chief Executive and largest shareholder in the electric car manufacturer.

Tesla news of its largest ever order from Hertz, the rental car company, caused an 12.7% rally in stock.

Refinitiv reports that Tesla’s stock closed at $1,024.86, setting a new record. Musk now owns a 23% share of the new trillion dollar company, which is valued at $230 billion.

The stake includes options that are worth more than $50 Billion, and which Musk vested in his 2018 compensation package.

Musk, who is also a shareholder in major part of SpaceX and the CEO, has been a key figure since October’s secondary shares were sold. According to CNBC reports, SpaceX was worth $100 Billion.

Musk does not receive a salary from Tesla. His pay package includes 12 option tranches. These options vest as Tesla’s financial growth and market capitalization reach a number of increasing milestones. Musk can buy Tesla shares for $70, which is a more than 90% discount from the current price.

Tesla’s adjusted earnings before interest taxes depreciation, amortization, and amortization (EBITDA), was $3.2 billion last week. This is 77% more than the previous year. This was sufficient to enable Tesla’s seventh option tranche worth more than $8 billion, to be vested.

Tesla’s 6-month-old average stock market value is above $650 billion. If Musk achieves higher goals related to revenue or adjusted EBITDA in the five remaining tranches, it will allow Musk to use all 12 options tranches of his salary package.