Tesla CEO Musk Draws Zero Pay for 2025 as Performance Targets Missed

Tesla (TSLA) disclosed in a Monday filing with the U.S. Securities and Exchange Commission that CEO Elon Musk received no actual compensation for 2025, despite a reported pay package valued at $158.359 billion. The entire figure reflects the accounting fair-value estimate of stock awards under Tesla's 2025 CEO performance award plan. Tesla said none of the market capitalization or operating performance milestones were met during the year, so Musk received no cash and vested no equity. The 10-year plan, approved in 2025, covers roughly 424 million shares across 12 tranches. The first milestone requires Tesla to reach a $2 trillion market capitalization, with each subsequent tranche raising the threshold by $500 billion, alongside revenue and profit targets. Full achievement of all 12 tranches would grant Musk awards worth about $1 trillion and lift his stake to at least 25%.