/ Industry, News, Tesla / Elon Musk gets less than $70,000 compensation from Tesla

Elon Musk gets less than $70,000 compensation from Tesla

Linked In Share
Elon Musk gets less than $70,000 compensation from Tesla

Last year, billionaire entrepreneur and Tesla Motors cofounder saw its CEO position rewarded with only around $70,000 – in stark contrast to what he earned in 2012.

The Palo Alto, California-based company that manufactures the luxury electric Model S sedan disclosed in a filling that its 42-year-old co-founder, Elon Musk, received in 2013 just $69,989. Before you lament his earnings – which compares to a $23.2 million package for Ford’s CEO Alan Mulally, you should note that Musk accepts $1 a year for his services at Tesla, while the company also has to pay him a cash compensation of $33,280, in line with California’s minimum wage requirements.

The catch here is that, besides being anyway a billionaire from his other businesses, in 2012 Musk received no less than $78.1 million, albeit in stock options – part of a performance-oriented option that matures over a decade.

Musk holds a 23 % stake in Tesla, which makes him the biggest shareholder, but is also chairman of SolarCity Corp and runs the Space Exploration Technologies Corp. – together his holdings bring him a net worth of around $10 billion.

Also, the 2012 compensation is part of a 10 years term, in which the company needs to achieve specific goals for Musk to gain possession of the full amount – including taking the market capitalization from $3.9 billion at the end of 2012 to $43.2 billion by 2022. The current value of the company is of $25.8 billion – and Musk also introduce during his run two new models, the Model X SUV, a more affordable sedan and reach annual production of 300,000 vehicles.

Via Bloomberg

by Aurel Niculescu (my Google+) - Friday, April 25th, 2014 - filed under Industry, News, Tesla. Image credit: .
Linked In Share
Related Articles
2013 ceo compensation elon musk us


Discuss: Elon Musk gets less than $70,000 compensation from Tesla

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

Montezemolo denies making Ferrari quit threat
Montezemolo denies making Ferrari quit threatJun.19 (GMM/Inautonews.com) Luca di Montezemolo on Friday hit reverse gear, after he was quoted as having threatened to pull ...
Test Drive: Mercedes-Benz CLA 200 CDI automatic
Test Drive: Mercedes-Benz CLA 200 CDI automaticOne of the best looking vehicles in its segment, the Mercedes-Benz CLA has been in production since 2013 and it is based on the ...
Test Drive: BMW 320d xDrive DCT
Test Drive: BMW 320d xDrive DCT The 6th generation of the BMW 3-Series has been here for more than two years and our team has went for a spin in such a model ...
Land Rover Discovery Sport confirmed for production, to be assembled in Halewood
Land Rover Discovery Sport confirmed for production, to be assembled in HalewoodLand Rover has confirmed the production of the Discovery Sport as the model in question will come to life at the JLR Halewood ...
[VIDEO] See the Mercedes-Benz S65 AMG sprint from 0-257 km/h
[VIDEO] See the Mercedes-Benz S65 AMG sprint from 0-257 km/hA new video with the impressive Mercedes-Benz S65 AMG is showing the luxury cruiser accelerate from 0 to 257 km/h (160 mph). The ...
[VIDEO] Range Rover Sport RS teased once more
[VIDEO] Range Rover Sport RS teased once moreThe upcoming Range Rover Sport RS has been teased once again in a new video released by the British based automaker. Land Rover ...
F1 abandons short GP weekend idea – report
F1 abandons short GP weekend idea – reportJun.19 (GMM/Inautonews.com) F1 failed to make significant cost-saving progress at a meeting on Wednesday, Germany's Auto Motor ...
[VIDEO] 2017 Porsche Panamera spied on the Ring
[VIDEO] 2017 Porsche Panamera spied on the RingThe 2017 Porsche Panamera has been caught on camera once again, this time while it was being tested out on the famous German ...
[VIDEO] Volkswagen GTI Roadster Vision Gran Turismo – inside clip released
[VIDEO] Volkswagen GTI Roadster Vision Gran Turismo – inside clip releasedThe German based automaker Volkswagen has released an inside clip with the new GTI Roadster Vision Gran Turismo, which is ...
UK: Audi S3 Cabrio pricing announced
UK: Audi S3 Cabrio pricing announcedThe new Audi S3 Cabrio will go on sale in September, across the United Kingdom, and the model in question will start from 38,910 ...
Nissan ready to sell its first “smart” mirror
Nissan ready to sell its first “smart” mirrorWith sales due in 2015 – at first in Japan – Nissan is moving with a new chapter in the history of… well, mirrors. For ...
Infiniti Q50 Eau Rouge Concept to make dynamic debut at Goodwood
Infiniti Q50 Eau Rouge Concept to make dynamic debut at GoodwoodThe Infiniti Q50 Eau Rouge Concept will be making its dynamic debut later on this month during the 2014 Goodwood Festival of ...
‘Alternatives’ to Renault do exist for Red Bull – Mateschitz
‘Alternatives’ to Renault do exist for Red Bull – MateschitzJun.19 (GMM/Inautonews.com) Red Bull will decide after its home Austrian grand prix this weekend if it will continue with ...
BMW M3 Sedan and M4 Coupe get priced in the UK
BMW M3 Sedan and M4 Coupe get priced in the UKBMW has announced the official price list for the new M3 Sedan and M4 Coupe in the United Kingdom. English buyers will have to ...
Musk talks about Tesla’s patent move
Musk talks about Tesla’s patent moveThe bold, brash billionaire entrepreneur and co-founder of Tesla Motors, Elon Musk, took a tour of TV appearances lately, in ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

0-Mercedes-Benz CLA 200 CDI Exterior Review 02
0-BMW 320d xDrive Exterior Review 02
Nissan debuts “Smart Rearview Mirror” on Rogue at New York A
BMW 4-Series Coupe gets wide body kit from Liberty Walk tuning 1
2014 mercedes-benz c-class tuning carlsson 1
2015 Peugeot 508 1
2015 chevrolet colorado gmc canyon 1
BMW M235i RS by Tuningwerk 1
Frontal LOGAN 10 ANI
2015 nissan navara suv 1
Mercedes-Benz S63 AMG Coupe Voltage Design tuning 1
Spy-Shots of Cars

More automotive from inautonews
One of the best looking vehicles in its segment, the Mercedes-Benz CLA has been in production since 2013 and it is based on the same platform as the new A-Class generation, which has also been used on the GLA crossover.Engine and Transmission The tested car had a 1.8 liter diesel burner under ...
read more
Inautonews Editors Section
Car investment – which are the next classics?
Car investment – which are the next classics?Some prefer the stock exchange, others buy gold and some invest in properties, but there is a small group of people who prefer to try their luck with ...
Where brand new cars go to die
Where brand new cars go to dieHundreds of millions of brand new cars are left to rust in huge parking lots all over the globe after no one wants to buy them. The 2014 world ...
Trendy cars for this summer
Trendy cars for this summerSummer is just around the corner and the inautonews.com team is presenting you with some of the hottest convertibles money can buy these ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety Congress hearing reveals GM neglected prior warnings of ignition defectsGeneral Motors, as its CEO Mary Barra once more presented in front of the US congress, was accused ... US: defective ignition investigation moves to ChryslerGeneral Motors looks to have opened Pandora’s box when it comes to automotive safety, as federal ...
Safety Section