The richest man in the world Elon Musk salary!!
‘What a surprise!’ Wrote Elon Musk on Twitter, surpassing Jeff Bezos in the list of the richest. But what is there to be so surprised? It was only a matter of time before we saw the rate of growth of his wealth during the Corona period.
It was said that Elon Musk will receive the first installment of his paycheck at Tesla when the company’s market value reaches 1 trillion.
However, according to the Bloomberg Billionaires Index, the total assets of the CEO of US carmaker Tesla are now $20.9 billion. Jeff Bezos has more than $18.6 billion. After watching the news, a question arose in my mind, how much does the richest man in the world get paid?
Elon Musk is a major shareholder in companies such as Tesla and SpaceX. That is the owner. So it is more reasonable to calculate the share price and dividend than the salary. He is also the chief executive. Chief of Staff. If he wants to calculate the salary from that side, no one should come down with a stick.
Tesla’s share price rises at the root of Elon Musk’s unusual wealth growth. He is the largest shareholder of the company. The total share price is around 21 percent. So our discussion today should be limited to Tesla.
How much is Elon Musk’s salary?
In 2016, Elon Musk made a strange deal with Tesla’s board of directors. The agreement states that he will not receive any salary or bonus as CEO of Tesla. Instead, he will get the reward for his work in 12 installments depending on the evaluation of the organization. Tesla’s market value will serve as a milestone.
According to the agreement, Elon Musk will receive the first installment of his paycheck at Tesla when the company’s market value reaches $1 trillion. And in the next 10 years from 2018, the market value will have to be taken to 65 trillion dollars. The market price touches the milestone one by one and Elon Musk will be rewarded accordingly. Of course, he doesn’t just have to touch the milestone, he has to keep the market price for a certain period of time. If he can meet all the targets, he will get Tesla shares worth a total of 5 thousand 580 million dollars.
At the time of the deal, Tesla had a market value of 5.4 billion dollars. Tesla’s market value was far behind the target in the first two years. Then last year we saw how many steps he climbed with each jump. No one thought that the value of the organization would come to $83,417 crores so fast today, did not think that the target of 2028 will be met in 2021.
Source: Quartz, Business Insider