Elon Musk's Tiny Salary Gets Small Increase
Tesla CEO Elon Musk got a raise, but Tesla doesn’t pay him nearly as much as you might think.
The American automaker revealed in its latest proxy filing with the SEC that Musk will now receive an annual salary of $37,440 – up from last year’s $35,360. Musk’s salary is consistent with minimum wage requirements under California law, but it’s worth noting that Musk doesn’t actually accept the salary from Tesla. The company also revealed that other named executive officers’ salaries did not increase last year other than for Greg Reichow, Vice President, Production, who saw his salary increase from $225,000 to $275,000.
SEE ALSO: Tesla CEO Took 99.9 Percent Pay Cut in 2013
Don’t feel bad for the Musk, in 2012 he received $78.1 million and owns 28.3 million shares of Tesla, which is worth about $6.2 billion. Regardless, Musk’s salary pales in comparison to other automakers or even top executives at Tesla. The company’s chief financial officer, Deepak Ahuja, has a $338,000 salary and with options received $3.8 million last year.
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Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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Here is a good example of a guy who is a part of the solution and not the problem, and he is setting a good example in the process. Give this man a raise!