How much does Elon Musk earn? A full breakdown of his 2020 salary is available now.
According to Insider, Musk earned $6.66 billion from his salary as CEO in 2020. This is nearly 12 times more than the earnings of the second highest paid CEO in America! Musk was awarded consecutively as the highest paid U.S. executive since 2018.
The Tesla and SpaceX boss obviously earns a few times more than the average company employee. Now, it is certainly interesting to know how much he is paid for every second of his time.
Elon Musk Salary Per Second in 2020
Calculating the income per second of the richest CEO in US should be easy.
As mentioned, Musk has earned $6.66 billion as his 2020 salary from the Electric Car Company Tesla. It is also important to note that these numbers are entirely separate from his earnings in SpaceX and other business industries, per Bloomberg.
This salary would be divided into 366 days since 2020 was a leap year, resulting in a salary of $18,196,721 every day. Then the number should be divided to the 86,400 seconds available in one day.
Elon Musk made an average salary income of $211 per second in 2020!
Note, however, that the numbers are hypothetical. The days and the time used for this calculation assumed that Musk does not take vacation breaks or spend any time of his day sleeping! It is safe to consider that Musk earns more than the calculation since he is limited to office hours.
Elon Musk: Highest Paid CEO in the US
The highest-earning American CEOs listed under Musk's name all earn significantly lower than the Tesla head, according to Bloomberg's list of "Highest Paid CEOs and Executives in 2020." The other Top 4 listed are:
- Mike Pykosz: Oak Street Health - $568,442,024
- Trevor Bezdek: GoodRx Holdings - $497,838,903
- Douglas Hirsch: GoodRx Holdings - 497,836,647
- Eric Wu: Opendoor Technologies - $388,713,679
Notably, only Musk passed the income threshold of billions.
Why Is the Dogefather So Rich?
Unlike traditional company workers, Elon Musk doesn't receive his salary in cash, instead, Musk is awarded compensation and option awards equitable to the salary indicated. Often, Musk uses this as an advantage to purchase Tesla shares at a discounted price.
Bloomberg Technology highlighted that "Tesla stocks keep going up, and the pay package is now worth a lot more. It's a trend that keeps going for Musk." The analyst also mentioned that "for Musk, actually none of this is salary. He gets only paid in stock options that grow in value if Tesla share price goes up."
The internet should be pretty familiar with the level of influence Elon has over the automotive company. Thanks to his marketing, the company maintained industry success in these last few years. In fact, in the company Q2 2021 report, Tesla mentioned that their vehicle production far exceeded Q1 performance.
As Musk continues to work for the automotive company, his stock shares on the market also continue to provide him with an endless wealth of money.