Elon Musk is once again the richest person in the world as the value of his Tesla shares continues to recover from a huge drop earlier this year. Based on Forbes Magazine, Tesla CEO’s net worth is around $224.2 billion. Much of his assets were slashed earlier this year when a judge blocked his 2018 stock option package, Although shareholders once again voted to approve the options, worth 56 billion USD. CEOs of auto companies are highly paidbut their pay packages are often in the millions. It’s hard to imagine how big this pay package is for Musk, but we’ll try.
The current Tesla, a rear-wheel drive Model 3, can be purchased for cash for $38,990 plus a $1,390 destination charge and a $250 ordering fee. We know that Tesla does not offer any discounts to employees, so Elon will have to bear the full amount. Musk now lives in Texas, so he’ll have to pay about 6.25 percent more in taxes, title and licensing fees, adding up to another $2,436.88. Thus, the selling price is $43,066.88.
Elon has long argued that buying a Tesla is a valuable asset because it will eventually earn you money while you work. So he would be foolish not to spend his entire $56 billion package on brand new Model 3s that will appreciate when the Full Self-Driving feature allows you to rent them out as robotaxis. So how many Model 3s could Elon buy with this payment plan?
One million, three hundred thousand, three hundred three Model 3s. With the pay package Tesla shareholders recently re-approved for Elon Musk, as payment for the hard work he’s put in since 2018, he could buy a new Model 3 every day for the next 3,562 years.
What else could Elon Musk buy with his $56 billion stock options package?
Ford’s market cap is $49 billion, so he could make a hostile takeover of Ford.
If he were really generous, Elon could buy four Costco hot dogs and drinks for every person on Earth.
This compensation package, which is admittedly for Elon’s six years of hard work, is significantly larger than any other auto CEO in the industry, but it’s still hard to fathom how much larger it is. If Elon hired General Motors CEO Mary Barra as his personal assistant, he could use that $56 billion package to pay her $27.8 million and keep her on staff until the year 4038.
Auction site Bring A Trailer sold more than 30,000 cars last year for a total of just shy of $1.4 billion. Elon’s pay package will make him the highest bidder for every car on BAT for the next 40 years.
What we’re trying to say is, that’s a huge amount of money, and he’s going to Maybe spend it making bad time-travel cartoons on Twitter instead.
