Elon Musk's official Tesla salary dropped to zero in 2020 — but he hasn't accepted his paychecks in years anyway (2024)

FAQs

Did a Delaware judge struck down his $56 B Tesla pay package? ›

The Delaware Chancery Court in January shot down the record-setting package on the grounds it was developed by Musk, not by an independent compensation committee, and company shareholders, when they were asked to vote on it, weren't properly informed about it.

Ruling on a lawsuit from a shareholder, she voided the pay package, saying that Musk essentially controlled the board, making the process of enacting the compensation unfair to stakeholders. “Musk had extensive ties with the persons tasked with negotiating on Tesla's behalf,” she wrote in her ruling.

Musk's pay was struck down in January by a Delaware judge who found that Tesla's directors had breached their fiduciary duty when they awarded Musk the largest compensation opportunity ever granted to a public company executive. The ruling came after a shareholder sued to challenge the pay package.

PALO ALTO, Calif. -- Tesla Motors announced that it has paid off the entire loan awarded to the company by the Department of Energy in 2010.

DETROIT (AP) — Tesla will ask shareholders to reinstate a $56 billion compensation package for CEO Elon Musk that was rejected by a judge in Delaware this year, and to move the electric car maker's corporate home from Delaware to Texas.

Bernard Arnault & Family

Bernard Arnault, the richest person in the world, is the CEO and chairman at Moët Hennessy Louis Vuitton (LVMH), the world's largest luxury goods company encompassing approximately 70 renowned fashion and cosmetics brands.

As both chairman and CEO, Arnault oversees iconic brands like Louis Vuitton, Dior, Fendi, Givenchy, and Moët & Chandon. In 2020, his annual compensation from LVMH amounted to $2.6 million, complemented by substantial dividends and stock options.

Elon Musk's Tesla paycheck was $55.8 billion. A judge had a problem with that "Musk is Tesla and Tesla is Musk," one analyst wrote in a recent note. Musk's reign has catapulted the car company to enormous success. But it also carries serious risks, a judge recently concluded.

Arnault's rise to the top came as tech stocks struggled due to high inflation. The French billionaire's surge in net worth, driven by positive LVHM results, led him to overtake Musk.

Has Elon Musk ever given money away? ›

Elon Musk, Tesla CEO and the chief of X, formerly known as Twitter, has given less than one per cent of his wealth. Musk has previously raised eyebrows when he declared last year that his for-profit ventures (Tesla, SpaceX, Neuralink) were “all philanthropy”, claiming his business ventures had a higher social purpose.

Most people think Musk's wealth stems from Tesla (TSLA). As the CEO of the electric vehicle (EV) company, it's no secret that TSLA has been a rocket ship for Musk's net worth, with an astonishing 3,000% stock surge over the last decade.

Tesla almost had a very different name—until Elon Musk and his co-founders bought the rights to “Tesla” for $75,000. He and the company's other founders did not come up with or own the name Tesla, the Tesla CEO told Lesley Stahl on a 60 Minutes interview airing Sunday night.

Tesla to cut nearly 2,700 jobs at Travis County gigafactory

Last week, it was reported that Tesla would be laying off 10% of its global workforce, or roughly 14,000 jobs. One report stated that some staff in Texas and California had already been notified of the layoffs as of April 15.