Image Credit: Forbes
Wondering how much Tesla CEO Elon Musk made in 2018? Well, we’ve got the answer right here for you.
According to a report published in Business Insider, the CEO actually took home a total of $2.3 billion in 2018, making him one of the, if not the, best-paid CEOs in the entire world, in all of history. NY Times reports that this income was mostly derived from his stocks and other non-cash assets.
A spokesman for Tesla, Kamran Mumtaz, says, “Elon’s entire compensation is directly tied to the long-term success of Tesla and its shareholders, and none of the equity from his 2018 performance package has vested.”
This money apparently allowed Musk to focus his attention on other innovative projects such as SpaceX, for example. According to the board at Tesla, the compensation package was given to “motivate Mr. Musk to continue to not only lead Tesla over the long term but particularly in light of his other business interests, to devote his time and energy in doing so.”
Although $2.3 billion may seem too huge for any one person to receive in a single year, analysts for Institutional Shareholder Services says that it actually benefits the company greatly. For one, Musk already owns about 20% of Tesla, which means that he’s much more motivated to make the company succeed, thus increasing the company’s own net value.
