Wednesday, June 19, 2019
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Elon Musk paid $ 2.3 billion, more than the next 65 highest paid CEOS

CEOs are making a lot of money, but Elon Musk has wiped his competition out of the water, according to a new 2018 New York Times study.

The study, conducted in collaboration with the Equilar consultancy, focused on the remuneration of CEOs at 200 major listed companies over the past year.

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

This is such a big inequality that the Times had to add an "extra dimension" to their chart showing pay for top CEOs. While the other 199 executives in the list are represented by a standard bar graph, Musk's transport is represented by a two-dimensional rectangle.

To put that in perspective, the left-hand column in the following table shows Tesla's total compensation for Musk for 2018, while the column of bars in the right-hand column shows the total of the next 65 executives in the Times list:

Business Insider / Andy Kiersz, data from the New York Times

Musk's compensation package from Tesla is unusual among top managers. The package, which was approved by Tesla's Board of Management in March 2018, gives Musk options when Tesla reaches market capitalization milestones over a decade.

Several commentators at the time pointed to the unusual nature of the compensation package. Business Insider's Troy Wolverton pointed out that Musk already controls a large portion of Tesla's stock and therefore already has strong incentives to increase its market capitalization.

Continue reading: Elon Musk and the SEC fiercely fight for one of Musk's tweets – here's what you need to know about their quarrel

Musk's huge compensation coincided with a turbulent year for him and the company. In an article accompanying the CEO's salary study, The Times noted that Tesla had problems increasing the production of its cars. Next a Tweet of musk Last August, the presumption that he had "secured funding" to take the company privately led to a SEC investigation and ongoing lawsuit.

Tesla's share price rose about 4% in the course of 2018. By 2019, the stock has fallen dramatically as the company's problems persist:

Business Insider / Andy Kiersz, data from Yahoo Finance


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