Tesla Chief Executive Officer (CEO) Elon Musk (Elon Musk) is the highest-paid CEO in 2020, according to the reports from Forbes.
“Forbes” estimates that Musk received about 11 billion U.S. dollars in salary last year (all from Tesla stock option awards), far more than Paycom CEO Chad Richison (salary of 211 million U.S. dollars) And 1Life Healthcare CEO Amir Dan Rubin (Salary of US$199 million).
It is reported that Tesla’s special shareholder’s meeting approved Musk’s salary plan for the next ten years on March 21, 2018. According to the plan, Musk does not have any salary or cash rewards, and his income is completely tied to Tesla’s market value and operating performance.
If he can lead Tesla to achieve many goals, he can obtain approximately 20.3 million stock options. These 20.3 million stock options are divided into 12 parts, each of which is 1.69 million shares. The exercise price of these options is 350.02 USD.
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Tesla has set 12 market capitalization goals, each of which is $50 billion more than the previous one, starting at $100 billion. Every time a goal is reached, Musk can get a 1.69 million stock option award.
In May last year, Musk received the first stock option award, valued at nearly 800 million US dollars. After that, he won the second, third, and fourth option awards one after another.
Musk’s first four option awards were obtained in 2020 when Tesla reached the market value target and operational milestone set by the board of directors, and its stock price increased by 7 times, which greatly increased Musk’s wealth.
At the end of April this year, foreign media reported that because Tesla’s first quarter of 2021 results reached the target set by the company’s board of directors, Musk was eligible for the fifth and sixth with a total value of 11 billion U.S. dollars. Option rewards.
Now, Musk is the third richest person in the world. As of May 5, 2021, his net worth is estimated at 165.7 billion U.S. dollars, a substantial increase from the 24.6 billion U.S. dollars in mid-March 2020.
