Tesla CEO Elon Musk is estimated to have a web value of $422.3 billion in accordance with the Forbes Actual-Time Billionaires Index, whereas the Bloomberg Billionaire Index lists him at $376 billion. The closest competitor, Meta co-founder Mark Zuckerberg, has a web value of $237 billion, notably drawing a base wage of $1 alongside different earnings sources. In contrast to many rich people who go for symbolic salaries, Musk doesn’t share that method.
In a response to a Wall Road Journal article that highlighted his wage of zero {dollars} throughout his tenure as Tesla’s CEO, Musk quipped, “Zero for seven years, regardless of rising the worth of the corporate >2000%.”
The WSJ article identified that Musk was the lowest-paid CEO amongst S&P 500 corporations in 2024. This case wasn’t voluntary; a Delaware courtroom had beforehand blocked his $56 billion compensation package deal in 2018, labeling it extreme. In 2024, the courtroom described Tesla’s board as “supine servants of an overweening grasp.” In mild of those occasions, Musk relocated Tesla’s headquarters from Delaware to Texas.
Social media erupted with reactions to Musk’s distinctive wage scenario. Many discovered it astonishing that the CEO of the world’s largest electrical automobile producer had a wage of zero. Feedback ranged from sarcasm, with one person suggesting he begin a GoFundMe, to critiques a few billionaire’s disconnect from on a regular basis realities. Others expressed confusion concerning the courtroom’s determination to override shareholders’ needs.
Because the discourse round Musk’s compensation continues, it highlights the complicated relationship between wealth, company governance, and public notion.
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