If you have been staying current with the latest news out of the Tesla Motors Inc (NASDAQ:TSLA) camp, you know that the company is moving in the right direction. In addition to a stock price that has tripled this year, CEO Elon Musk has big expansion plans.
Sure, the company has run into some problems along the way, such as its recent defeat in the Lone Star state, but this hasn’t deterred Tesla in the slightest. In fact, it has pushed the company forward in many ways.
With all this in mind, you may be under the impression that Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk is earning millions upon millions of dollars a year for his role with the company. But guess what? This is not the case. In fact, you may be surprised to find that you earn more at your job than Musk does at Tesla.
Automotive News recently took a closer look at the pay of some of the CEO’s in the automotive industry. While there are many pulling down millions of dollars every year, Musk is not among them. Instead, he finds himself near the bottom of the food chain. And that is just the way he wants it.
Are you ready for this? Musk earned $39,000 as the CEO of Tesla Motors Inc (NASDAQ:TSLA) in 2012. That is right, $39,000 not $39 million. Here is an excerpt from the Automotive News story:
“Musk’s compensation was $39,280 for his role as CEO, consisting of a $33,280 salary and a $6,000 bonus. Like many other executives who rank near the bottom of the list, he has not cashed in any stock awards or options.”
As you can see, Musk took a very small salary along with a bonus that is mere peanuts when compared to what other CEO’s are pulling in. For comparison sake, Ford CEO Alan Mulally earned $3.95 million from bonuses and incentive plans.
Before you begin to feel bad for Musk, consider this additional information added in the article:
“The industry should keep its eyes on Musk: In 2012, he was granted a large stock award that won’t fully vest until Tesla is worth $43.2 billion and passes several operational milestones.”
While the CEO of Tesla Motors Inc (NASDAQ:TSLA) may not be earning a lot right now, this is going to change in the very near future.