Tesla CEO Elon Musk Earned $70,000 in 2013

By | April 25, 2014
It's no secret top executives make big money. Mary Barra, CEO of General Motors, will earn $14.4 million this year while Ford CEO Alan Mulally was recently awarded a $23.2 million package. But it turns out Tesla CEO Elon Musk isn't making as much…yet. According to Bloomberg, Musk made a base salary of $33,280 last year, the minimum requirement under California law. With company bonuses, his total compensation came in just under $70,000. Someday, Musk could be seeing a lot more money. A compensation package approved in 2012 awarded Musk almost 5.3 million shares of Tesla stock. Now that Tesla's stock is worth over $207, those shares are now worth more than $1 billion. The shares will be awarded to Musk over a 10-year period based on meeting certain performance goals.
Tesla is expanding its future reach. It will introduce the Model X SUV as well as a smaller, low-cost model. It has also expanded its network of free charging stations for Tesla owners to all areas around the country. It is even going global, introducing Model S sedans for the first time to customers in China. According to Musk, sales in this region could match those in the U.S. by next year. Source: Bloomberg