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Home / Business / Elon Musk paid $ 2.3 billion, more than the next 65 highest paid CEOS

Elon Musk paid $ 2.3 billion, more than the next 65 highest paid CEOS



CEOs make a lot of money, but Elon Musk blew his competition out of the water in 2018, according to a new study by The New York Times.

The study, conducted with Executive Compensation Consultants Equilar, looked at compensation for CEOs of 200 large listed companies last year.

According to the report, Tesla CEO Elon Musk was awarded nearly $ 2.3 billion last year, largely in the form of options. The second largest CEO on the list, Discovery David M. Zaslav, made $ 129 million.

There is such a big difference that the Times had to "add an extra dimension" to the chart showing payment for top managers. While the other 1

99 leaders on the list are represented by a standard line chart, Musko's wheelbarrow is illustrated with a two-dimensional rectangle.

To put this into perspective, the left column of the table below shows Musk's total 2018 compensation from Tesla, while the stack of bars showing the right column shows the sum of the next 65 leaders in the Times list: [19659006] Business Insider / Andy Kiersz, data from The New York Times

Musk's compensation package from Tesla is unusual among top executives. Approved by Tesla's Board in March 2018, the package allocates options to Musk if Tesla reaches certain milestones for market values ​​over a decade.

Several commentators at the time noted the unusual nature of the compensation package. Business Insider's Troy Wolverton pointed out that Musk already controls a large part of Tesla's stock, and he already has strong incentives to increase the company's market value.

Read more: Elon Musk and SEC are in a fierce battle over one of Musk's tweets – here's what you need to know about their dispute

Musk's exaggerated compensation coincided with a stormy years for him and the company. In an article that came with the corporate pay study, The Times observed that Tesla was having trouble increasing the production of their cars. Furthermore, a tweet from Musk in August, suggesting that he had "funding secured" to take the company privately led to a SEC investigation and ongoing legal battle.

Tesla's share price whipsawed through 2018, eventually ending up about 4% during the year. In 2019, the stock has fallen dramatically as the company's woes continue:

Business Insider / Andy Kiersz, data from Yahoo Finance


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