Tesla CEO Elon Musk makes just $33,280 a year; has option to buy 5.27 million shares
Depending on when Tesla Motors CEO Elon Musk is speaking, he’s either pointing out that his electric vehicle company has a rough road ahead or that everything will be fine. Both lines can be kind of true, which is one reason that Tesla is such a fascinating company. It’s also potentially a very profitable endeavor for Musk, depending.
Business Week is reporting that Musk’s compensation package, designed “to keep him at the company,” included an option to buy 5.27 million TSLA shares at $31.17 a share over the next ten years. That would cost $164 million and could be worth way more than his official $33,280 annual salary. Perhaps that’s why he’s already said he plans to stay at Tesla for “several more years.” Right now, BW says, Musk controls 25.8 percent of Tesla and is the largest shareholder. TSLA shares are currently trading at $29.40.
Related GalleryTesla Model S