The total profits of Elon Musk from the auto industry market rose to achieve the highest profits among all CEOs in auto manufacturers for the year 2021, as CEO of Tesla Corporation, taking advantage of the boom and growth that the stock market experienced during the year 2020, according to A study conducted by the newspaper ” Automotive news ” revealed that the world’s richest man, Elon Musk, made $23.5 billion in profits for 2021, becoming the highest paid CEO of American automakers.
Elon Musk’s profits from the car industry reach $ 23 billion
Tesla CEO Elon Musk made record profits from the auto industry, thanks to the electric car maker Tesla, which announced its quarterly profit, which was estimated by several reports at $23.5 billion.
Perhaps the secret behind Elon Musk’s profits from the large auto industry market, says Courtney Yu, who is responsible for studying the Automotive news magazine, that the stock market was working in a very good way, and the economy was in good shape, which was reflected in the executives in the past year, noting To that Elon Musk decided to work more extensively in the field of stocks, and then consequently, its value reached 23 billion dollars, stressing that it was certainly a busy year for all who owned shares.
Overall, CEO compensation and compensation for automakers rose an estimated 78% in 2021, with an average increase of $12.3 million, compared to just $6.6 million in 2020, and CEOs who stayed in office for more than two years Their incentives have already increased by 90%.
Despite the previous rises of CEOs, Tesla CEO Elon Musk was alone in the lead in terms of profits with $23.5 billion, and in second place for the list of the most profitable CEOs for 2021 came Peter Rawlinson, who has been working for Lucid since 2019, with a profit of only $67 million.
It is noteworthy that these increases and profits were not limited to CEOs only, but also extended to suppliers.
Nvidia CEO Jensen Huang also reaped $560.9 million in compensation, after following in the footsteps of Elon Musk in relying on the stock market during 2021.
It should be noted that companies within the mobility and technology sector, such as Lyft and Uber, were the only companies within the industry to reduce allowances, incentives, and compensation for their CEOs in 2021.
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