At $1.34 billion, Tesla’s Elon Musk was last year’s best paid auto executive – Los Angeles Times

Prospects for electric car and energy company Tesla may be uncertain, but Chief Executive Elon Musk certainly had a great year financially in 2016.

Automotive News reported Monday that Musk exercised stock options worth $1.34 billion last year. The options were due to expire in 2016. Stock options granted by a company’s board allow an executive to buy shares at a deep discount.

That act made Musk by far the best-compensated leader of a public automotive company for the year, the automotive trade publication said.

Tesla units sales are flat and it’s burning cash as it produces the new Model 3 mid-market sedan, the success or failure of which could make or break the company.

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