Connect with us

AIC

Forbes: Musk earned record $11 billion in 2020

Avatar

Published

on

Tesla founder and general director Elon Musk was paid about $11 billion last year, Report informs, citing Forbes.

Musk was paid about $11 billion last year, by Forbes estimates, all in Tesla TSLA -2.8% stock options awarded to him as part of the audacious compensation plan he inked with the electric carmaker in 2018. That plan, worth $2.3 billion when it was first spelled out, was spread over a decade. But it didn’t start kicking in until 2020.

Each tranche of options gives Musk the right to purchase 8.4 million shares of Tesla. Last year, the Tesla chief was awarded a total options payout worth $13.3 billion, Forbes calculates. To find the value of these different options awards, Forbes used Tesla’s stock price at the time closest to when each tranche of options vested and was approved by the Tesla board. To exercise the options, it’ll cost Musk about $2.36 billion; net of those costs, Forbes calculates that the options added $11 billion to Musk’s fortune.

That puts him well above Paycom PAYC -4.1% CEO Chad Richison ($211 million in compensation) and 1Life Healthcare CEO Amir Dan Rubin ($199 million), who topped most of the earnings lists for 2020.

One caveat, however, is that Musk must hold the newly-awarded Tesla shares for five years, according to filings. So while he has the right to exercise a total of 33.77 million options from his 2020 awards, he can’t immediately turn around and sell those shares.

Subscribe to our Twitter page

Continue Reading

"Report" studio

Ilham Aliyev, Recep Tayyip Erdogan watching Turkish national team’s game

Avatar

Published

on

Azerbaijani President Ilham Aliyev and his Turkish counterpart Recep Tayyip Erdogan are watching the Group A Turkey-Wales match of the UEFA European Football Championship, Report informs.

The match is being held at the Baku Olympic Stadium.

Wales drew with Switzerland 1:1 at the Baku Olympic Stadium on June 12. Italy defeated Turkey 3:0 in the opening match in Rome.

Subscribe to our Twitter page

Continue Reading

"Report" studio

UEFA EURO 2020: Turkey-Wales match kicks off

Avatar

Published

on

The match of the second round of Group A Turkey-Wales has kicked off at the UEFA European Football Championship, Report informs.

The match at the Baku Olympic Stadium began at 20:00 (GMT+4).

Wales drew with Switzerland 1:1 at the Baku Olympic Stadium on June 12. Italy defeated Turkey 3:0 in the opening match in Rome.

Subscribe to our Facebook page

Continue Reading

"Report" studio

Erdogan meets Turkish military operating in monitoring center in Agdam

Avatar

Published

on

As part of his visit to Baku, Turkish President Recep Tayyip Erdogan has met with the Turkish military operating in the joint Turkish-Russian monitoring center in the Agdam district, the Turkish Presidential Administration tweeted, Report informs.

Subscribe to our Facebook page

Continue Reading

Facebook

Armenian Aggression1 hour ago

Euro 2020: Wales wins over Turkey

"Report" studio3 hours ago

Ilham Aliyev, Recep Tayyip Erdogan watching Turkish national team’s game

"Report" studio4 hours ago

UEFA EURO 2020: Turkey-Wales match kicks off

Armenian Aggression4 hours ago

Putin-Biden talks begin in private behind closed doors

Armenian Aggression4 hours ago

Shusha Declaration confirms allied nature of relations between Azerbaijan, Turkey – Russian analyst

"Report" studio4 hours ago

Erdogan meets Turkish military operating in monitoring center in Agdam

Armenian Aggression5 hours ago

Russia to launch additional flights from Samara to Baku

Armenian Aggression5 hours ago

Turkey wants to see South Caucasus as region of peace and stability – Foreign Ministry

Armenian Aggression5 hours ago

NATO thanks Azerbaijan for its peacekeeping co-op in Afghanistan

Armenian Aggression5 hours ago

Erdogan discusses opportunities of unblocking Zangezur corridor

Armenian Aggression5 hours ago

New power substations under construction in Azerbaijan’s liberated districts – Azerenerji

"Report" studio5 hours ago

Dinner hosted on behalf of President Ilham Aliyev, First Lady Mehriban Aliyeva in honor of President Recep Tayyip Erdogan and his wife Emine Erdogan

"Report" studio6 hours ago

President: We would like to see OIC countries participate in reconstruction of liberated territories

"Report" studio6 hours ago

Ilham Aliyev: Azerbaijan is active member of OIC family

"Report" studio6 hours ago

Victim: Armenians beat me with crowbar – VIDEO

Trending