The NASDAQ-listed firm breached the level in Tuesday trading and continued to rise on Wednesday - up 3% to over $565 a share - with the stock having more than doubled in three months.
In 2018, shareholders voted for Musk to be paid in company stock options only, based on operations and market capitalisation targets.
The first option will be realised now the electric vehicle maker's value has touched the US$100bn market value, if it keeps at that level for both a one-month and six-month average.
This first milestone will allow Musk to receive 1.7mln Tesla shares at a reduced price, for a net value of US$354mln.
The following tranches will be triggered for each US$50bn bump up in market value over ten years, for a total of US$650bn, alongside other revenue and profit targets.