Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk makes sure his company’s name is in the media as often as possible, but today it’s his name that’s making headlines. He took second place on Bloomberg’s list of “Compensation Kings,” following Oracle Corporation (NASDAQ:ORCL)’s Larry Ellison.
Bloomberg’s “Compensation King List”
The list focuses on the CEOs for thousands of public companies in the U.S. Bloomberg took a close look at their compensation packages to come up with their list. According to Jordan Robertson and Bloomberg Rankings, it isn’t the salary that makes up the bulk of these CEOs’ compensation. Usually the salary lags behind their stock options, equity stakes and bonuses.
The CEO at the bottom of the list of those examined by Bloomberg made a mere $40 million in a year, but at the top of the list, the compensation was more than double. The publication said one CEO landed on the list twice and noted that there were no women on the list at all. It also said that there’s a chance that the CEOs on this list won’t get all of the cash that’s listed because many of the stock options are restricted and / or vest over time. So at the end of the day, it all boils down to how the companies do.
Tesla’s Elon Musk
Although Tesla Motors Inc (NASDAQ:TSLA)’s Elon Musk took second place on the list, some would argue that he has the most star power of all the CEOs on the list. His compensation package is made up of almost completely stock options which vest over a decade and is currently worth about $78.2 million. As a result, his wealth has risen tremendously this year to date since shares of Tesla Motors Inc (NASDAQ:TSLA) have risen 271 percent so far. The company’s market value is now $15 billion.
The automaker’s board said in a regulatory filing that Musk’s package is generous because they want to reward his “previous and current contributions and create incentives for the CEO to continue to contribute significantly.”
Oracle’s Larry Ellison
Oracle Corporation (NASDAQ:ORCL) CEO Larry Ellison also makes headlines frequently enough. His package is worth a whopping $96.2 million, almost 20 million more than Elon Musk. Of that package, Bloomberg reports that $90.7 million of it is in stock options. His personal fortune is around $39 billion, with most of it being in company stock.
Unfortunately for Larry Ellison though, Oracle Corporation (NASDAQ:ORCL) shares have dropped 4 percent this year, so his compensation could increase if the stock should turn around.
Other Names On The List
There are 15 names in all on Bloomberg’s list. In third place is Gamco Investors Inc. (NYSE:GBL)’s Mario Gabelli, who doesn’t even take a salary or equity awards. Instead he receives fees for management and other remunerations.
In fourth place we have another tech company. Activision Blizzard, Inc. (NASDAQ:ATVI)’s Robert Kotick’s compensation jumped almost eight times last year, largely because of stock awards. Shares of the company have gone up 44 percent so far this year. CBS Corporation (NYSE:CBS)’s Leslie Moonves rounds out the list’s top five with $62.2 million in compensation. The company’s stock has gone up 35 percent so far this year.
Other names worth noting include Liberty Media Corp (NASDAQ:LMCA)’s Greg Maffei, HCA Holdings Inc (NYSE:HCA)’s Richard Bracken, Helen of Troy Limited (NASDAQ:HELE)’s Gerald Rubin and Exxon Mobil Corporation (NYSE:XOM)’s Rex Tillerson, who will rake in only about $40.3 million in compensation.