Tesla CEO Elon Musk made more money in 2018 than the next 65 highest paid chief executives, according to a new study.
Musk was the highest paid CEO last year with nearly $2.3 billion in earnings and the next highest paid boss was Discovery’s David M. Zaslav who made $129 million, a New York Times commissioned study found.
The study, carried out by executive data firm Equilar, examined CEO compensation from 200 large publicly-traded companies.
Musk’s 2018 earnings mostly came in the form of stock options from his company.
Tesla’s Elon Musk was the highest paid CEO last year with nearly $2.3 billion in earnings and the next highest paid boss was Discovery’s David M. Zaslav who made $129 million
The Tesla CEO remained on top in a separate study carried out by the same data firm that instead calculated the top paid CEOs by state across the country.
Following behind Musk (California) and Zaslav (Maryland) was T-Mobile’s John Legere in Washington with $66.5 million and computer software company PTC’s James Heppelmann in Massachussetts with $50 million.
At Home Group’s Lewis Bird III in Texas earned $43.1 million, Virginia construction company NVR’s Paul Saville earned $39.1 million, Comcast’s Brian Roberts in Pennsylvania earned $35 million and JPMorgan Chase’s James Dimon in New York earned $30 million.
The survey considered only publicly traded companies with more than $1 billion in revenue that filed their proxy statements with federal regulators between January 1 and April 30.
Discovery’s David M. Zaslav of Maryland came in second after making $129 million and T-Mobile’s John Legere in Washington came in third with $66.5 million in earnings
PTC’s James Heppelmann of Massachusetts came in fourth with $50 million while Lewis Bird III from the At Home Group in Texas finished next with $43.1 million in earnings
Comcast’s Brian Roberts in Pennsylvania made $35 million and JPMorgan Chase’s James Dimon in New York earned $30 million
Centene’s Michael Neidorff in Missouri made $26.1 million while James Cracchiolo of Ameriprise Financial in Minnesota earned $24.8 million
Not every state has such a company headquartered there.
The survey includes only CEOs who have been in place for at least two years, but it does not limit the survey to companies in the S&P 500. That’s why it includes such CEOs as Tesla’s Elon Musk.
To calculate CEO pay, Equilar adds salary, bonus, stock awards, stock option awards, deferred compensation and other components that include benefits and perks.
For some companies, big raises can occur when CEOs get a stock grant in one year as part of a multi-year grant.
Median pay for S&P 500 CEOs was $12 million last year.
THE HIGHEST PAID CEOs BY STATE:
Alabama: J. Thomas Hill, Vulcan Materials, $7.8 million
Arizona: Richard Adkerson, Freeport-McMoRan, $14 million
Arkansas: C. Douglas McMillon, Walmart, $23.6 million
California: Elon Musk, Tesla, $2.28 Billion
Colorado: Gregory Maffei, Liberty Media, $20.2 million
Connecticut: Glenn Fogel, Booking Holdings, $20.5 million
Delaware: Hervé Hoppenot, Incyte, $9.3 million
Washington, D.C.: Thomas Joyce, Jr., Danaher, $15.4 million
Florida: Frank Del Rio, Norwegian Cruise Line Holdings, $22.6 million
Georgia: Martin Richenhagen, AGCO, $18.6 million
Hawaii: Constance Lau, Hawaiian Electric Industries, $5.7 million
Idaho: Darrel Anderson, IDACORP, $4.5 million
Illinois: Miles White , Abbott Laboratories, $24.3 million
Indiana: David Ricks, Eli Lilly, $15.7 million
Iowa: Daniel Houston, Principal Financial Group, $10.5 million
Kansas: Thomas Gentile III, Spirit AeroSystems, $9.9 million
Kentucky: William Carstanjen, Churchill Downs, $21.1 million
Louisiana: Leo Denault, Entergy, $9.3 million
Maine: Jonathan Ayers, IDEXX Laboratories, $6.8 million
Maryland: David Zaslav, Discovery, $129.5 million
Massachusetts: James Heppelmann, PTC, $50 million
Michigan: Mary Barra, General Motors, $21.9 million
Minnesota: James Cracchiolo, Ameriprise Financial, $24.8 million
Mississippi: Joe Sanderson, Jr., Sanderson Farms, $4.2 million
Missouri: Michael Neidorff, Centene, $26.1 million
Nebraska: Lance Fritz, Union Pacific, $12.8 million
Nevada: Sheldon Adelson, Las Vegas Sands, $24 million
New Hampshire: Timothy McGrath, PC Connection, $4.5 million
New Jersey: Kenneth Frazier, Merck, $20.9 million
New Mexico: Patricia Collawn, PNM Resources, $4.8 million
New York: James Dimon, JPMorgan Chase, $30 million
North Carolina: Brian Moynihan, Bank of America, $22.5 million
North Dakota: David Goodin, MDU Resources Group, $4.1 million
Ohio: Gary Heminger, Marathon Petroleum, $18.9 million
Oklahoma: Harold Hamm, Continental Resources, $13.3 million
Oregon: Bryan DeBoer, Lithia Motors, $5.5 million
Pennsylvania: Brian Roberts, Comcast, $35 million
Rhode Island: Larry Merlo, CVS Health, $21.9 million
South Carolina: John Williams, Domtar, $8 million
South Dakota: David Emery, Black Hills , $4.1 million (left company on Dec. 31, 2018)
Tennessee: R. Milton Johnson, HCA Healthcare, $20.1 million (left company on Dec. 31, 2018)
Texas: Lewis Bird III, At Home Group, $43.1 million
Utah: Joseph Margolis, Extra Space Storage, $4.4 million
Virginia: Paul Saville, NVR, $39.1 million
Washington: John Legere, T-Mobile US, $66.5 million
Wisconsin: Jeffery Yabuki, Fiserv, $12.4 million