Tesla's Elon Musk hits targets for $11 billion options payout

According to quarterly report on Monday, which hitting targets qualifying Tesla's Chief Executive Elon Musk for two options payouts worth a combined $11 billion.

The electric car maker leaves behind the  Wall Street's expectations for first-quarter revenue and profit, boosted by record deliveries, robust demand from China, and environmental credit sales. 

It reported quarterly revenue of $10.39 billion and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $1.84 billion, surpassing milestones that trigger the vesting of the fifth and sixth of 12 tranches of options granted to Musk in his 2018 pay package to buy discounted Tesla shares.