Elon Musk's Tesla races ahead of rising costs with price hikes

Results should trigger €21.1bn in new payouts to CEO Elon Musk, already the world's richest man.

Elon Musk receives no salary and his pay package requires Tesla's market capitalisation and financial growth to hit a series of escalating targets.

Tesla results surged past Wall Street expectations, as higher prices helped insulate the electric vehicle maker from supply chain chaos and rising costs.

The results also should trigger $23bn (€21.1bn) in new payouts to CEO Elon Musk, already the world's richest man.