Home / Auto News / News article: Tesla CEO Took 99.9 Percent Pay Cut in 2013 - AutoGuide.com News
 |  Apr 25 2014, 9:18 AM

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CEOs are usually paid the big bucks, but the head of the youngest publicly held US automaker took a significant pay cut last year.

In 2013, Tesla CEO Elon Musk received a total compensation of $69,989 with the value of stock and options totaling just $36,709. That’s a sharp contrast compared to his total compensation from 2012, when the CEO received $78.2 million in total compensation. His value of stock and options from 2012 was $78.1 million.

SEE ALSO: GM CEO Mary Barra to be Paid about $14.4M in 2014

Though Musk is given cash compensation of $33,280, Tesla noted in its filing that he accepts $1 per year for his services as CEO. Musk’s compensation is a sharp comparison to new GM CEO Mary Barra, who will be paid approximately $14.4 million this year, and Ford’s Alan Mulally who will receive a total compensation package of $23.2 million.

Of course Musk isn’t exactly strapped for cash, considering he has a total net worth around $10 billion.

GALLERY: 2013 Tesla Model S

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[Source: Automotive News]

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