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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Tesla Inc (NASDAQ:TSLA) CEO Elon Musk remained the highest-paid executive of a publicly listed company for the fourth year in a row in 2021, according to the Bloomberg Pay Index. Just below him was the head honcho of a rival electric-vehicle firm still navigating its way out of rocky roads.
What Happened: In a list of top paid executives for fiscal 2021 compiled by Bloomberg, Rivian Automotive Inc. (NASDAQ: RIVN) CEO R.J. Scaringe came in second, raking in $2.28 billion, mainly thanks to stock options.
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Scaringe and Musk were the only chief executives whose pay deals shot into billions in 2021 — "the most lavish" year on record for executive compensation, as per the report.
| Name | Total Compensation |
|---|---|
| Elon Musk (Tesla) | $10.07 Billion |
| R.J. Scaringe (Rivian) | $2.29 Billion |
| Tim Cook (Apple) | $853 Million |
| Peter Rawlinson (Lucid) | $575 Million |
Musk has been steadily unlocking stock option awards granted in his 2018 pay package, as Tesla has been meeting or exceeding quarterly targets for some time.
In third place was Apple Inc (NASDAQ:AAPL) CEO Tim Cook, followed by yet another EV executive — Lucid (NASDAQ:LCID) CEO and CTO Peter Rawlinson.
See Also: This Tesla Rival Is Discontinuing The Base Model Of Its EV Pickup Truck
Why It Matters: Scaringe's ranking on the index comes at a time of significant struggles for Rivian. The company, backed by Amazon.com Inc (NASDAQ:AMZN) and Ford Motor Co (NYSE:F), posted better-than-expected revenue for the second quarter but trimmed its bottom-line outlook for the full year as it grapples with supply chain snags and rising input costs.
The news also underscores the growing disparity in pay between average workers and big company CEOs, who now earn 351 times more than the former on a realized basis.
Price Action: Rivian shares slid over 4% to $34.45 on Friday, before trimming some of those losses in extended trading, according to data from Benzinga Pro.
Photo via Richard Truesdell on Wikimedia
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.