The electric automaker’s 8 percent spike on Monday brought the company’s stock market value to an average of more than $100 billion over the past six months, triggering the first milestone in the 48 year-old’s $50 billion pay package.

With the $100 billion average safely in pocket, Musk now has the option to buy 1.69 million Tesla shares at $350 a pop. At Tesla’s Monday closing price of $761, the billionaire could flip his new shares for a profit of just under $700 million.

To earn his full, $50 billion award, Musk would have to lead Tesla to a market cap of $650 billion by 2028. Tesla’s board signed off on the compensation package in March 2018, when Tesla’s market cap was $52.46 billion.

If he doesn’t reach any milestones, according to the company’s filing, he will not get paid. The South Africa-born billionaire then has eight years left to clear 11 more valuation hurdles, mostly in $50 billion increments, which would fetch him roughly $5 billion each.

Musk does not take a salary from Tesla, and only earns money through performance-based rewards.

A full payoff for Musk, who is also the majority owner and CEO of the SpaceX rocket maker, would surpass anything previously granted to US executives.

A representative for Tesla did not respond to The Post’s request for comment.

Musk’s potential payday comes just a day after he listed two Bel Air mansions on real estate site Zillow, following a series of tweets where he said he would “own no house” and get rid of most of his possessions.

The $100 billion tranche was also triggered the same day that Musk said he welcomed a child with pop star Grimes.