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The reason why Elon Musk gets paid minimum wage

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HR Grapevine
HR Grapevine | Executive Grapevine International Ltd
The reason why Elon Musk gets paid minimum wage

The enigmatic CEO of automotive manufacturer Tesla Motors barely earnt the minimum wage last year, according to company records.

Elon Musk revealed that his total compensation in 2015 was valued at $37,584 (£26,482), according to the Wall Street Journal - which is reflective of the minimum wage requirements in California, USA.

In contrast, the salary of John Wheeler, Chief Financial Officer at Tesla Motors, was valued at $20.9million (£14.7million), which was comprised of a new-hire stock-option grant.

In a statement regarding wages, Tesla explained: “Our current compensation programs reflect our start-up origins in that they consist primarily of salary and equity awards.

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