By Jason Siu Even though Elon Musk refuses to take a salary from Tesla, the automaker still made him a billionaire in 2016.
According to Automotive News, Musk exercised $1.34 billion in stock options last year, posting the largest total CEO compensation out of all publicly traded U.S. automakers. That also means his pay increased by 3.6-million percent, although there’s a caveat. Musk’s reported total compensation “was not actually received in cash upon these exercises,” a Tesla proxy statement said. The CEO sold $593 million in stock, which was used “solely in order to pay … income taxes related to such exercise.”
The compensation comes
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