One of the richest men in the world - and depending on the day, the richiest -, Elon Musk does not accept to receive his salary from Tesla. However, the CEO still has a generous “compensation plan” from the carmaker. eletric cars, which has the potential to earn him around US $ 30 billion (about R $ 163 billion) in 2021 alone.

The truth is that, according to Tesla's financial statement, it is pointed out that Musk receives a monthly minimum wage for his work (US $ 2.080 / month, according to data from the California government), something he doesn't accept. However, this does not mean that it is not compensated in any way.

Elon Musk. Image: Win McNamee / Shuttestock
Tesla CEO Elon Musk receives no salary. Image: Win McNamee / Shuttestock

In 2018, shareholders of the electric vehicle maker approved a very generous compensation plan for the CEO, which consists of an important number of market shares that he can access if Tesla reaches certain milestones, such as revenue increases, positive valuation of the brand and the “Ebitda” (acronym for “earnings before interest, taxes, depreciation and amortization”). See below the main details of the plan:

Elon Musk does not receive a salary from Tesla, but his compensation plan could reach $ 30 billion. Image: Tesla / Disclosure
Elon Musk does not receive a salary from Tesla, but his compensation plan could reach $ 30 billion. Image: Tesla / Disclosure

In 2020, Musk unlocked the “first tier” of his compensation plan and earned something around US $ 800 million (approximately R $ 4 billion and 350 million). In the same year, Tesla consistently generated profits and maintained high market capitalization - resulting in more money in the CEO's pockets, which unlocked three more installments of the compensation plan.

With Tesla delivering more than $ 10 billion in revenue and EBITDA of $ 1,8 billion in the first quarter of 2021, Musk had access to levels 5 and 6 of his form of compensation. The CEO, however, has not yet disbursed the money, according to the website ELECTrek, but when he does, he would receive more than $ 30 billion (almost R $ 163 BILLION!) in Tesla shares - probably making him the highest-paid executive in the world.

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And all this money and access to shares covers only half of the compensation plan foreseen for the CEO. That is, if Tesla continues to advance in the market, Musk will be able to unlock another six installments of such a compensation plan and, thus, easily earn more than US $ 100 billion (more than R $ 500 billion!).

Source: ELECTrek

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