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April 23, 2015

Think Tesla Motors’ Elon Musk Makes a Big Salary? Think Again

Elon Musk, Tesla Factory, Fremont (CA, USA) in 2011. Photo by Maurizio Pesce.

Elon Musk’s salary might surprise you.

The Tesla CEO makes minimum wage, pulling in just $35,360 — the standard minimum in California — last year, according to a regulatory filing seen by CNN.

As CNN points out, Musk’s salary would not even come close to paying for one of his own company’s electric vehicles.

Musk, a billionaire, refuses his minimum wage salary each year, the filing revealed. It also indicated he did not receive any cash from stock or bonuses in 2014.

The 43-year-old, who has a net worth of about $27.6 billion, owns 35.3 million Tesla shares, which comes to about $7.8 billion.

Musk is also the CEO and chief technology officer of SpaceX, a company that designs and manufactures space launch vehicles, which, of course, is a major source of income.

He is also the chairman of SolarCity and has a 21 percent stake in the firm.