Elon Musk is on his way to $1 trillion. According to The Washington Post, Tesla shareholders approved a $1 trillion compensation package for Musk that averages $100 billion a year over 10 years. An interactive pay breakdown from the Post shows how the numbers line up next to real workers' salaries.
The visuals comparing the egregious figure to everyday professions — including teachers and cashiers — are pretty shocking. The sheer amount of money is easier to see when it's displayed next to the average profession.
The Post reported that Musk's projected annual pay roughly matches the combined paychecks of all 3.2 million U.S. cashiers, based on Bureau of Labor Statistics data. It also said his yearly average is about $3 billion more than the combined pay of 1.4 million elementary school teachers in the country. The comparison extends to human resources specialists as well since their total income still falls $26.7 billion short of Musk's yearly amount, according to the Post.
How does this even happen? Musk has become a leader in the electric vehicle and space industries and has had a lot of outside funding to catapult himself forward.
A separate report on Tesla's valuation quoted a billionaire investor who said Musk creates money "out of thin air," in regard to how Tesla's market boom unfolded. Additionally, Tesla is receiving federal funding for things like its public charging stations, although the White House agreement requires it to meet strict requirements to use the money. Either way, Tesla's growth and federal support rely on financial structures that are closely watched — which adds context to how people are reacting to the scale of Musk's compensation.
The way we bank can influence which industries get funded, and it's important to note that routine financial choices affect where money flows. Learning how to upgrade to a cleaner bank can help support sustainability. Also, if you work for a company that doesn't always use best practices, advocating for workplace change can push employers to make more responsible choices for their employees.
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