Musk, 234 trillion won compensation from Tesla last year... actual received amount is '0 won'

Musk, 234 trillion won compensation from Tesla last year... actual received amount is '0 won'

It has been revealed that Elon Musk, Tesla CEO, received over 200 trillion won in total compensation last year.

According to a disclosure document submitted by Tesla to the U.S. Securities and Exchange Commission (SEC) on the 1st (local time), CEO Musk's total compensation last year amounted to 158.4 billion dollars (approximately 234 trillion won).

This reflects the current value of the super-large stock compensation agreement worth 1 trillion dollars (approximately 1,480 trillion won) approved by CEO Musk at the shareholders' meeting last November.

However, this is the maximum amount CEO Musk can receive if he achieves various goals while growing Tesla into a super-giant corporation in the future.

The reason 158.4 billion dollars, not 1 trillion dollars, was recorded in the books is because the value of the shares to be paid was recorded based on last year's stock price.

CEO Musk can gradually receive this amount if he achieves all management goals, including increasing Tesla's market capitalization from the current 1.2 trillion dollars to 8.5 trillion dollars (more than 7 times), delivering 20 million cars, operating 1 million robotaxis, and selling 1 million humanoid robots.

Furthermore, since Tesla failed to meet any of its management goals last year, the actual compensation Musk received is currently '0 won'.

Tesla stated in the disclosure document that the median annual total compensation for employees, excluding the CEO, was 62,786 dollars (approximately 92.8 million won) last year.

Meanwhile, the scale of so-called 'internal transactions' between companies led by Musk was also revealed through this disclosure.

Artificial intelligence (AI) company xAI spent 431.01 million dollars to purchase Tesla's large-capacity battery 'Megapack', and space company SpaceX spent 143.3 million dollars to purchase Tesla vehicles.

Tesla also spent 3.3 million dollars on advertising on the social networking service (SNS) X (formerly Twitter).