Elon Musk only made $37,000 from Tesla last year

Tesla Motors paid its CEO Elon Musk just $37,584 last year, according to Reuters.

Believe it or not, Musk actually got a minor pay bump last year. According to Tesla’s SEC filing, Musk only received $35,360 in total compensation from Tesla Motors in 2014.

Though Musk has never accepted his salary, his $37,584 in compensation reflects the minimum wage requirements in the state of California, according to the Wall Street Journal.

In contrast, Tesla paid its chief financial officer $20.9 million in 2015, a majority of which came from a new hire stock-option grant.

This kind of low salary practice among isn’t uncommon among tech CEOs. Facebook’s founder and CEO Mark Zuckerberg, who is also a billionaire, only draws a $1 salary from Facebook, even though he has about $45 billion worth of Facebook’s stock. Musk similarly owns about 37.2 million shares in Tesla, which is currently worth about $9.47 billion.

NOW WATCH: We put Tesla’s Autopilot to the ultimate test in the most stressful driving city in America

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.