Elon Musk is a good husband
Elon Musk: With his salary he can pay Angela Merkel for 1,600 years
Elon Musk is the highest paid CEO and now the richest person in the world. We have calculated what the Tesla boss could do with the immense sum he earned in 2019.
Tesla CEO Elon Musk: He's the highest-earning CEO.
The sum has a lot of places before the decimal point: as much as the Tesla boss Elon Musk no other CEO in the world deserves it. At least that's what the US agency Bloomberg reports, which has compiled a ranking of the highest-earning CEOs.
Elon Musk ends up in first place for the 2019 annual salary. The ranking includes the salary, bonuses and share profits. He gets a regular salary Tesla boss not, but he does benefit significantly from bonus payments if the group achieves certain targets. Now Elon Musk is also the richest person in the world.
The breathtaking price rally of the US electric car maker Tesla on the stock exchange brought company boss Elon Musk to the top of the rich list according to Bloomberg's billionaire ranking. The fortune of the 49-year-old entrepreneur rose to 188.5 billion dollars (153.7 billion euros) on Thursday thanks to further price gains in Tesla shares, and was last about 1.5 billion more than that of the Amazon founder and previous Front runner Jeff Bezos.
Tesla shares rise 700 percent
Both Musk and Bezos, who has held the top position in Bloomberg's super-rich charts since October 2017, benefit greatly as major shareholders of their companies from their good performance on the stock exchange. Tesla's stock is up more than 700 percent in the past twelve months. Despite its still relatively low production and only modest profits, the company has long been by far the most heavily traded car maker in the world. It was only in November that Musk overtook third-placed Bill Gates in the Bloomberg ranking.
However, the figures in billionaire charts such as the “Bloomberg Billionaires Index” or the “Forbes” lists are only estimates based on publicly available information on assets such as stocks, real estate, works of art and other luxury goods.
Elon Musk: Big goal for Tesla
Elon Musk's net worth is pretty closely tied to the value of his company, Tesla. When Elon Musk was named CEO for another ten years in 2018, targets of $ 50 billion each for the market value were gradually agreed. The big goal is a market value of $ 650 billion: Elon Musk could then theoretically pocket more than two and a half billion dollars as a bonus.
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Tesla is now valued at around $ 600 billion on the stock exchange. This makes the group the world's most valuable car manufacturer. The automaker has been stuck with a market capitalization of more than $ 100 billion for several months.
Elon Musk's salary is amazing
According to the Bloomberg Salary Index, Elon Musk earned an annual salary of $ 595.3 million in 2019. This means that the Tesla boss is top notch: Apple CEO Tim Cook is clearly in second place with $ 133.9 million (about 118 million euros).
It seems financially worthwhile to make a career in tech. Four CEOs from the sector are represented in the top 10 of the ranking, namely the heads of Apple, Google, Intel and Microsoft.
These are the top 10 earners, according to Bloomberg:
- Tesla CEO Elon Musk ($ 595 million)
- Apple CEO Tim Cook ($ 133 million)
- Tom Rutledge, CEO Charter Communications ($ 116 million)
- Joseph Ianniello, ViacomCBS ($ 116 million)
- Sumit Singh, Chewy ($ 108 million)
- Jonathan Gray, Blackstone Group ($ 107 million)
- Robert Swan, Intel ($ 99 million)
- Sundar Pichai, Alphabet ($ 86 million)
- Satya Nadella, Microsoft ($ 77 million)
- Douglas Ingram, Sarepta Therapeutics ($ 70 million)
You won't find female first names in the list: there are no women among the top 10 highest-paid US CEOs. The gap to men is huge when it comes to salaries: The best-paid CEO in 2019 was Bloomberg Lisa Su, head of chip developer Advanced Micro Devices (AMD). Su earned $ 55.8 million last year and is 19th in the ranking.
Tesla Model Y: The electric car is to be built in the new Gigafactory in Brandenburg in the future.
No woman in the top 10 top earners
The unbelievable sums of money that CEOs earn at top companies show a trend: the gap between top manager earnings and the salary of normal employees is widening - and not just in the USA.
In the past year, the top managers of the German DAX companies earned an average of 49 times as much as their employees. This is the result of a study by the German Association for Protection of Securities Holdings (DSW) in cooperation with the Technical University of Munich. On average, the board members of Dax companies received 3.4 million euros. That was 0.3 percent less than the year before. Nominal wages in Germany rose by an average of 2.6 percent.
But: "Nevertheless, the difference between the salaries of normal employees on the one hand and board members on the other is still huge," said Gunther Friedl from the Technical University of Munich, as reported by the German press agency.
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Paying Angela Merkel for 1,673 years: What Elon Musk could do with his annual salary
From Elon Musk's point of view, even such salaries seem like peanuts. In order to illustrate how enormous the annual salary is, we did an example of what you could do with 520 million euros:
Elon Musk could use his CEO income ...
- … Chancellor Angela Merkel has been paying for 1,673 years
- ... football player Timo Werner buy himself ten times
- ... buy 65 Maybach Exelero - in theory, because there is only one copy of the most expensive car in the world
- ... 8,870 Tesla Model Ys can afford it
- … Hire 8,524 German engineers for a year
- … Make 20 films with Leonardo DiCaprio
- … Send 10 German astronauts to the ISS
- … Buy 1,875 80 square meter apartments in a good location in Düsseldorf
- ... stay 6,753 nights in the most expensive hotel in the world in New York
More articles on Tesla:
Accidents with autonomous cars over and over again
Virtual test drive: This is what the truly autonomous Tesla looks like
Shock for Tesla: Autopilot causes first fatal accident
A contribution by:
Peter Sieben is content manager and responsible editor for ingenieur.de. After an internship at the Funke media group, he worked as an editor and reporter in various departments. He writes about technology, research and career topics.
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