Studying AFL-CIO statistics can provide resources Elektrek The investigation found that Tesla CEO Elon Musk’s job income last year was equivalent to the annual income of the company’s 2,522,203 ordinary employees. Generally speaking, in the U.S. labor market, this ratio is limited to “300:1,” but based on last year’s results, Musk became the highest-paid CEO.
Image source: X, Musk
His compensation for the same period was $158 billion, an amount that greatly exceeded Tesla’s own revenue last year, which was $94 billion. Additionally, Tesla’s revenue fell 3% last year for the first time in its history. At the same time, Musk received an amount that exceeded Tesla’s total profits during the entire company’s existence.
As sources note, this distortion also affects overall U.S. labor market statistics. Excluding Musk’s salary, the ratio of the average annual salary of US CEOs to the annual salary of employees was 285:1 last year and rose to 312:1 this year. However, if Musk’s salary is included, the ratio will soar to 5387:1. Tesla has about 135,000 employees; their combined income over the past year is several times lower than Musk’s compensation for managing the company. The impact of Musk’s personal activities on Tesla’s reputation is more likely to be viewed as negative than positive, so such generous compensation may not seem justified. None of this has stopped Tesla’s shareholder meeting from approving Elon Musk’s compensation package, which could see him receive up to $1 trillion over ten years, mostly in the form of company stock, if a number of conditions are met.
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