Elon Musk's $56 bn pay: If Tesla chief was an Indian firm, he’d have been bigger than Tata Motors, SBI & TCS in revenue
Elon Musk’s historic $56 billion pay package. If the tech billionaire was an Indian company, he would have been ranked the fifth largest on the list of major corporations in India by revenue.
On Thursday, the electric vehicle manufacturer’s board approved Musk’s $56 billion pay package, supporting his leadership and incentivising his focus on the auto giant.
The decision has put Elon Musk's salary higher than the revenue of Bharat Petroleum (BP), the fifth-largest company in India.
In fact, if Elon Musk was an Indian company, he would have been the fifth-largest in the country. Musk’s salary is higher than the revenues of Bharat Petroleum (BP) at $54.03 billion, Tata Motors at $52.43 billion, Hindustan Petroleum (HP) at $52.09 billion, State Bank of India (SBI) at $40.35, Rajesh Exports at $37.48 billion, and Tata Consultancy Services (TCS) at $29.04 billion, according to data collected from CompanyMarketCap.com.
Elon Musk's pay package will now come after Reliance Industries (RIL) at $108.62 billion, Life Insurance Corporation of India (LIC) at $96.10 billion, Indian Oil (IOC) at $93.84 billion, and Oil and Natural Gas Corporation (ONGC) at $77.54 billion, according to the data.
Tesla board’s vote of confidence on Musk comes at a tough time, as the company's sales have been going down over the quarters. Total revenues for the company are down 8.69 per cent when compared to the same quarter the previous year, according to data collected from the first quarter results of 2024.
The company has lost 26.33 per cent of its market share in the calendar year 2024, the data has shown. However, Tesla is still the largest company in terms of market share.
Stock market investors were positive about the company's announcement as
