Is Elon Musk the lowest-paid CEO in the S&P 500? What we know about the viral Wall Street Journal report

The businessman Elon Musk was the lowest-paid among S&P 500 companies in 2024, according to a report published by The Wall Street Journal on June 2, 2025.

The report by the WSJ has garnered massive attention on social media, as it states that Elon received no salary or compensation from Tesla, the automotive company, due to legal challenges.

In the past few days, Musk has been in the news as he stepped down from his role at the Department of Government Efficiency (DOGE), under the US President Donald Trump's administration.

More on why Elon Musk was the lowest-paid CEO in the S&P 500

A report by The Wall Street Journal, titled, How Much Should the World's Richest Man Get Paid? has gone viral on the internet. It discusses how Elon Musk was not paid any compensation by Tesla despite the influence on the company, and it further discusses the reason behind this and its implications.

The report states that Elon was the lowest-paid CEO among S&P 500 companies in 2024, as he did not receive any salary from Tesla. It was because of a legal battle centered around his 2018 performance-based stock option plan, which was struck down in court and left him with no compensation whatsoever.

Among the implications that the report discusses are concerns over the comapny's governance and board oversight, and pressure to craft a new compensation plan to retain Musk in the company. The report further sparks debate on CEO pay structures, particularly performance-based compensation.

Despite Musk not being paid, the company's valuation has increased by over 2,000%. Since Elon focuses on ventures like xAI and SpaceX, the company is under pressure to keep him and the influence he brings to the company.

An X (formerly Twitter) user @SawyerMerritt shared a snippet from the report published by the WSJ and wrote:

''WSJ: "Elon Musk was the lowest-paid chief executive of an S&P 500 company last year. Tesla paid him $0."

This post of his received wide attention, and Elon Musk reacted to it by reposting it and adding a caption, saying:

''Zero for seven years, despite increasing the value of the company >2000%.''

While the report by the WSJ highlighted Elon being the lowest-paid CEO, it also highlighted the highest-paid CEO. As per the report, Rick Smith was the highest-paid CEO among S&P 500 companies in 2024, earning $165 million. He is the co-founder of Axon Enterprises, the technology company that produces body-worn cameras, in-car video systems, and TASER-branded electroshock weapons etc.

The report also confirms that Tesla's board is now actively looking for ways to compensate Elon. While some suggest a performance-based package, others suggest the traditional way of paying a CEO, as per the industry standards.

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