Elon Musk‘s 2025 compensation package at Tesla reached a reported value of $158.3 billion, more than 2.5 million times the median pay of a Tesla employee, according to an annual analysis by the AFL-CIO released this week.

The labor federation’s Executive Paywatch report calculated the ratio at 2,522,203 to 1. That figure meant Musk’s package equaled the median Tesla worker’s annual earnings every 4.23 seconds. The median employee compensation used in the calculation was $57,243.

The package, based on the grant-date fair value of restricted stock awards, was 14 times larger than the combined total compensation of all other S&P 500 chief executives, the report said. Including Musk’s award, the average S&P 500 CEO compensation rose to $340.1 million in 2025. Excluding it, the average still climbed 21 percent to $22.8 million from $18.9 million the prior year, the highest level since the AFL-CIO began tracking the data in the 1990s.

The average CEO-to-worker pay ratio across S&P 500 companies reached 5,387 to 1 when Musk’s package was included. Without it, the ratio stood at 312 to 1, up from 285 to 1 in 2024.

Brandon Rees, lead researcher for the AFL-CIO’s Executive Paywatch project, described the scale of the award as unprecedented. “Elon Musk’s gargantuan 2025 pay package at Tesla is unlike anything we have seen before,” he said. “Our economy is increasingly out of balance because billionaires like Elon Musk are taking a greater share of the economic pie while working people are struggling to make ends meet.”

Fred Redmond, the AFL-CIO’s secretary-treasurer, said the Tesla arrangement was already influencing other boards. Musk’s deal “changes the dynamic when other CEO compensation plans come up” and “boards use it as a reference,” he said in comments reported alongside the findings.

The compensation figure reflects accounting valuations of equity grants under Tesla’s 2025 CEO Performance Award and related awards, not cash paid out or shares vested during the year. Tesla has previously noted in regulatory filings that such reported totals can differ significantly from any value ultimately realized, as awards depend on meeting multi-year performance milestones including market capitalization, operational targets and product goals. In some prior periods, realized compensation for Musk has been reported as zero when awards remained unvested or were subject to legal and other adjustments.

Tesla’s median employee pay and the resulting ratio are calculated under Securities and Exchange Commission rules that require public companies to disclose the relationship between CEO compensation and that of a median worker. The company has said it remains committed to competitive pay for employees. Manufacturing was identified in the AFL-CIO report as the sector with the highest average CEO-to-worker ratio, driven in large part by the Tesla figures.

The report placed the Tesla numbers in a broader context of rising executive pay. A majority of S&P 500 CEOs earned more in a single day than the median U.S. worker made in a full year, according to the analysis. The federation also highlighted wider economic pressures, including limited retirement savings and difficulty covering unexpected expenses among many American households.

Musk’s package has drawn attention in part because of its size relative to Tesla’s workforce and to other corporate pay practices. Shareholders previously approved the structure of the performance-based awards, which are designed to vest only if ambitious financial and operational targets are met over a multi-year period. The awards have been the subject of ongoing legal and governance discussions, including court proceedings related to earlier compensation arrangements.

Analysts and labor groups have long debated the implications of large equity packages for alignment of interests between executives and shareholders, as well as for internal pay equity. Supporters of performance-based awards argue they incentivize long-term value creation and retain leadership during periods of high growth and risk. Critics, including the AFL-CIO, contend that such extreme disparities contribute to broader economic imbalance and set benchmarks that influence compensation decisions elsewhere.

The AFL-CIO has tracked executive pay trends for decades. This year’s findings show that even after removing the Tesla outlier, average CEO compensation and the ratio to worker pay continued to rise. The report is expected to fuel continued discussion among investors, policymakers and labor advocates about disclosure rules, say-on-pay votes and the structure of equity incentives at major public companies.

Tesla employs more than 100,000 people worldwide, with a substantial portion of its workforce outside the United States. Median pay figures under SEC methodology include a range of roles and locations and are not equivalent to average wages at specific factories or in particular job categories. The company has reported competitive hourly rates at some manufacturing sites in recent disclosures.

As of the report’s release, the accounting valuation of Musk’s 2025 awards stood as the largest single-year CEO compensation figure examined by the AFL-CIO. Whether and when any portion of the awards converts into realized value will depend on Tesla’s future performance against the specified milestones and on the final resolution of related legal and administrative matters.

The findings arrive amid ongoing public and investor scrutiny of executive compensation practices across the technology and automotive sectors. The AFL-CIO said the data underscore the need for continued attention to the distribution of economic gains between top executives and the broader workforce.

For UK groups landing at GVA, securing a minibus hire at Geneva airport can often mean the difference between a cramped commute and a flexible mountain odyssey.

Standard car rentals typically fail to accommodate the specialized gear required for summer alpine sports, leaving travelers struggling with logistics in the arrivals hall before the journey even begins.

This guide explores how proper vehicle selection, navigating the unique dual-sector airport layout, and understanding UK licensing requirements can contribute to a seamless journey. Research suggests that preparing for these logistical elements of alpine travel helps reduce stress, allowing groups to focus entirely on their upcoming outdoor adventures.

Choosing a self-drive adventure over restrictive private transfers often provides the freedom needed to explore diverse landscapes at your own pace. This approach is particularly well-suited for a multi-hub itinerary, where groups might plan to visit both the shores of Lake Geneva and the high-altitude trails of Chamonix in a single trip.

Opting for a 9-seater car hire at Geneva airport allows travelers to transition smoothly between these distinct locations. R4Rental specializes in providing long-base vehicles designed specifically for mountain terrain, offering practical solutions that may help accommodate both large passenger groups and their extensive sporting gear comfortably.

Table of Contents

• The Gear Challenge: Why a 9-Seater Trumps an SUV
• The Mobility Factor: Navigating the French Sector vs. Swiss Sector
• Driving Dynamics: UK Licenses and Alpine Roads
• FAQ – Minibus Hire and Alpine Logistics
• Limitations and Considerations for Alpine Minibus Travel
• Conclusion

The Gear Challenge: Why a 9-Seater Trumps an SUV

While a large SUV might seem sufficient for a standard family holiday, a passenger van rental typically provides the specific floor length needed for mountain bike bags and hiking equipment without sacrificing passenger comfort.

For active groups of eight or nine people, the long-base advantage of a 9-seater minibus for hire is often essential for a successful trip. Having expensive gear secured safely inside the vehicle rather than strapped to external roof racks may reduce the risk of theft and weather damage.

Furthermore, keeping the weight distributed internally can contribute to improved driving stability on steep alpine gradients. When evaluating options for a passenger van rental against traditional utility vehicles, a 9-seater car hire at Geneva airport often demonstrates clear logistical advantages.

Exploring a range of long-wheel passenger minibuses can help groups find the right balance of interior space and road performance for their specific itinerary.

Managing Mountain Bikes and Oversized Luggage

Fitting eight adult passengers alongside eight hard-shell bike boxes requires careful logistical planning and the correct vehicle dimensions. An extra-long wheelbase minibus hire is often the most effective solution for summer sports enthusiasts, as it offers the extended cargo depth necessary for bulky downhill equipment.

This specific configuration helps ensure that neither passenger legroom nor driver visibility through the rear window is compromised by stacked luggage.

Comfort for 8-9 Passengers on Winding Passes

Maintaining high comfort levels during long drives through hot summer alpine passes is a critical consideration for overall group morale. Modern long-base vans typically feature dual-zone air conditioning and generous seating proportions, which can contribute to a significantly more pleasant journey.

Adequate spacing helps reduce physical fatigue on winding mountain roads, allowing everyone to arrive at the trailhead refreshed and ready for activity. The elevated seating position also provides passengers with better views of the surrounding peaks, enhancing the overall travel experience.

The Mobility Factor: Navigating the French Sector vs. Swiss Sector

Choosing the right pickup point at the terminal is critical, as arranging a minibus hire at Geneva airport from the French side often offers significant cost savings and easier access to French alpine resorts.

Geneva Airport (GVA) features a unique physical layout split into two distinct national zones, requiring travelers to decide their rental origin well in advance of their arrival. When comparing car rental in Switzerland at Geneva airport options against the French sector, logistics vary considerably regarding currency, included highway vignettes, and daily base rates.

Selecting a GVA airport car hire in the French sector pickup is often associated with smoother transitions for groups heading directly toward the Mont Blanc massif. To reach the French sector, arriving passengers must proceed to the check-in level, follow the specific signs for the French destination zone, and pass through a dedicated customs corridor before descending to the rental desks, which is typically a straightforward process for UK passport holders.

Why the French Side is Often Better for Alps-Bound Groups

Opting for a van hire at Geneva airport’s French side frequently provides tangible financial and logistical benefits for groups traveling into the Haute-Savoie region. These benefits often include lower base rental rates and more favorable tax structures compared to Swiss equivalents.

Insurance nuances also differ, and starting on the French side grants direct road access to the A40 motorway without the need to navigate through central Geneva’s urban traffic.

Another notable advantage of a van hire at Geneva airport’s French side is avoiding the mandatory Swiss motorway vignette, which is an unnecessary expense if your planned route does not require driving on Swiss highways.

The Multi-Hub Itinerary: From Lake Geneva to Annecy

Using a dedicated vehicle can enable groups to seamlessly visit multiple destinations, such as combining the relaxing shores of Lake Geneva with the rugged trails of Chamonix in a single, comprehensive trip.

A self-drive approach helps remove the strict scheduling constraints of public transport or private shuttles, making a multi-hub itinerary highly achievable and enjoyable. For instance, securing a minibus rental in Annecy or driving there directly from the airport allows travelers to experience diverse alpine environments on their own terms.

The ability to transport wet gear, muddy boots, and tired athletes directly from a remote trailhead back to your accommodation is a convenience that public transport simply cannot match.

Driving Dynamics: UK Licenses and Alpine Roads

Most UK travelers are pleasantly surprised to learn that a self-drive minibus hire for up to nine seats is perfectly legal to operate on a standard Category B license. Understanding the specific regulations around driving a 9-seater on a UK license can help alleviate anxiety for the designated group leader before the trip begins.

According to standard Category B license minibus rules, drivers may operate vehicles with a maximum authorized mass of up to 3.5 tonnes, a classification that covers the vast majority of modern passenger vans used by rental agencies.

Choosing a self-drive minibus hire can empower groups to share driving responsibilities, provided all drivers meet the rental company’s age and experience requirements.

Alpine Driving Tips for Large Vans

Navigating tight hairpins and steep gradients in a large vehicle requires a cautious, measured approach and an understanding of the vehicle’s dimensions. Utilizing engine braking by shifting into lower gears on long descents may help prevent brake overheating, which is a common issue on winding mountain passes.

Drivers should remain highly aware of their extended turning radius and utilize their side mirrors frequently when passing oncoming buses or cyclists. Summer weather in the Alps can be unpredictable, with sudden afternoon thunderstorms reducing visibility and altering road conditions rapidly.

Maintaining a safe following distance and ensuring the vehicle’s tires are properly inflated can contribute to better traction on wet tarmac. Additionally, researching parking options in small mountain villages ahead of time is advisable, as spaces designed for longer wheelbases can occasionally be limited.

Taking regular breaks at designated scenic pull-outs can also help maintain driver concentration during demanding stretches of alpine driving.

Securing a minibus hire at Geneva airport often facilitates the ultimate summer adventure by providing the space and flexibility large groups require. Key takeaways for a successful trip include choosing the French sector for potential cost savings, verifying that your standard license covers the vehicle, and prioritizing a long-base model to accommodate specialized gear.

The freedom of a self-drive van is widely considered unmatched for exploring the diverse landscapes of the French Alps, allowing travelers to dictate their own schedules and adjust plans based on local weather conditions.

R4Rental operates as a dedicated specialist for alpine group logistics, offering transportation solutions tailored to active travelers. Their fleet of new, long-base 9-seaters is specifically selected to meet the demanding needs of mountain bikers and hikers navigating steep terrain.

By choosing a reliable vehicle equipped for the mountains, groups can focus entirely on the trails ahead rather than worrying about transportation hurdles. Ready to explore the peaks with your group? Book Now to secure your modern 9-seater for the summer season.

FAQ – Minibus Hire and Alpine Logistics

Can I drive a 9 seater on a standard UK license?

Yes, you can drive a 9-seater, including the driver, on a standard UK Category B car license. This applies as long as the vehicle’s maximum authorized mass does not exceed 3.5 tonnes. Most modern 9-seater minibuses used for rental are designed to fall within this weight limit. Always check the specific vehicle weight if you plan to carry exceptionally heavy gear.

Is it cheaper to rent a car in Switzerland or France at Geneva Airport?

Generally, renting from the French sector of Geneva Airport is cheaper than the Swiss side. This is typically due to lower base rental rates and different tax structures in France. However, you must consider the cost of the Swiss motorway vignette if your route requires driving on Swiss highways. For groups heading directly into the French Alps, the French side is almost always the most cost-effective choice.

How much is a 9 seater hire at Geneva airport?

Prices for a minibus hire at Geneva airport typically range from £80 to £150 per day depending on seasonality. Summer peaks, such as July and August, often see higher demand and prices compared to the shoulder season. Booking a long-base vehicle with unlimited mileage can provide better overall value for multi-hub trips. Always check for zero excess insurance options to avoid high security deposits.

Can I take a rental van from Geneva to France?

Yes, most rental agencies at Geneva Airport allow cross-border travel between Switzerland and France. You should inform the rental company in advance to ensure all necessary insurance and roadside assistance covers both countries. Ensure the vehicle has the required safety equipment for both jurisdictions, such as high-visibility vests and warning triangles. Cross-border fees are rarely charged for this specific route, but always verify your contract.

What is the best van for 8 people and luggage?

The best van for 8 people with significant luggage is a long-wheelbase 9-seater like the Renault Trafic or Ford Transit Custom. These models offer an extended cargo area behind the third row of seats, which is essential for gear. Standard wheelbase vans often lack the depth required for large suitcases or sports equipment when all seats are occupied. Choosing a model with an automatic gearbox can also make alpine driving significantly more comfortable.

If you followed hyperscalers’ earnings, you probably already knew that the neoclouds would repeat some version of “demand for compute is outstripping supply” in their earnings calls. And of course, they did. However, there were some useful nuggets in CoreWeave (

WASHINGTON — The Trump administration on Friday asked the Supreme Court to allow construction of a large new White House ballroom to proceed, escalating a legal battle over whether the president can undertake major changes to the executive mansion without explicit approval from Congress.

In an emergency filing, Solicitor General D. John Sauer requested that the justices put on hold a recent appeals court ruling that ordered a halt to above-ground work on the project. The administration argued the injunction is unlawful and that the ballroom forms part of an integrated security complex needed for national security.

“This case involves an extraordinary and unlawful injunction that will halt the ongoing construction of the integrated military complex, including a totally secure ballroom space, at the East Wing of the White House, which is vitally required by national security,” the Justice Department lawyers wrote.

The request comes one week after a three-judge panel of the U.S. Court of Appeals for the District of Columbia Circuit ruled 2-1 that the administration lacked authority to proceed without congressional authorization. The panel upheld a lower-court order from U.S. District Judge Richard Leon directing a stop to most above-ground construction while allowing underground work on security features, including a presidential bunker and related facilities, to continue.

“Whether or not a massive ballroom should be constructed is for Congress to decide and is not a matter for Executive self-help,” the majority wrote in the Aug. 7 decision. The appeals court paused its order for 14 days to give the administration time to seek Supreme Court review. Unless the high court intervenes, the halt on above-ground work is set to take effect around Aug. 21.

President Donald Trump had signaled the appeal immediately after the appeals court ruling. “We will be immediately appealing to the United States Supreme Court,” he wrote on Truth Social, describing the decision as “horrendous, politically motivated, and unlawful” and stating that “This unjust decision must be overturned by the Supreme Court in its entirety.”

The project involves replacing the demolished East Wing with an approximately 90,000-square-foot ballroom estimated to cost around $400 million, financed primarily through private donations. Construction of the underground elements has continued under prior court permissions, and the administration has said the overall project is substantially advanced, with a concrete-and-steel superstructure in place and crews working extended hours.

The National Trust for Historic Preservation filed the underlying lawsuit after the East Wing was torn down last year, arguing that major alterations to the White House require congressional approval, historic preservation reviews and other legal steps that were not completed. Lower courts have largely agreed that private funding does not exempt the project from the requirement for legislative authorization of significant changes to federal property.

The administration has framed the ballroom as essential for security, citing threats against the president and the need for a fully secure space integrated with underground protective features. It has maintained that stopping the work at this stage would leave an incomplete structure and create practical and safety problems. Judges have rejected the argument that national security concerns automatically override statutory limits on executive authority over the White House grounds.

The case raises broader questions about the balance of power between the president and Congress regarding the White House itself. Courts have described the president as a temporary occupant rather than the owner of the property, emphasizing that lasting changes require legislative involvement.

Supreme Court intervention on an emergency basis would determine whether construction of the above-ground portions can resume while the full legal challenge proceeds. The justices could grant a stay, deny the request, or take other steps that would shape the project’s timeline. The administration has asked for prompt action given the approaching effective date of the lower-court order.

Construction activity has been visible at the site in recent weeks, with equipment and progress documented in public images. The president has personally engaged with design details of the ballroom, which is intended to serve large events while incorporating enhanced security elements.

Opponents of the project contend that allowing unilateral construction sets a precedent that could enable future presidents to alter historic federal buildings without oversight. Supporters argue that the executive has long exercised authority over the White House complex and that security needs justify the current approach, particularly when no taxpayer funds are said to be required for the ballroom itself.

The Supreme Court has not indicated when it will rule on the emergency application. The matter arrives during the court’s summer recess, when emergency applications are typically handled by the justices or a designated justice before potential referral to the full court.

As the legal process continues, underground security-related work remains authorized under existing court orders. The outcome of the Supreme Court request will determine whether the visible above-ground construction of the ballroom can advance or must pause pending further proceedings and any eventual congressional action.

The dispute underscores ongoing tensions over the scope of presidential authority in managing the White House and the role of the courts in enforcing statutory requirements for major federal projects. Both sides have described the stakes as significant for the physical structure of the executive residence and for broader principles of separation of powers.

The company had posted net profit of Rs 658 crore in the corresponding period of the last financial year.

Consolidated revenue rose 10% to Rs 10,750 crore in the period under review.

On a standalone basis, Ashok Leyland reported its highest-ever net profit of Rs 609 crore as against Rs 594 crore in the same quarter previous year. However, due to rising material costs EBITDA (Earnings before Interest, Tax, Depreciation & Amortisation) margin stood at 10.1% as against 11.1% in the year-ago period.

“The company has delivered another strong quarter, underpinned by disciplined execution and effective cost management”, said Dheeraj Hinduja, Chairman of the company said, adding, “Demand across key segments remains robust, and future prospects continue to be encouraging. Government initiatives such as Parivartan will further accelerate fleet modernisation and support the long-term growth of the commercial-vehicle industry.”

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The company’s electric mobility subsidiary, Switch Mobility, also continues to gain traction, he said.
“While rising material costs remain a concern, Ashok Leyland is taking several initiatives towards better price realisation, rigorous cost-saving efforts, product and business mix improvement, and opportunity-based inventory build-up”, said Shenu Agarwal, Managing Director & CEO, Ashok Leyland.Last quarter, Ashok Leyland posted its highest ever sales of commercial vehicles at 48,763 units, compared to 44,238 units in the same period last fiscal.

The company announced investments of up to £25 million (approximately Rs 325 crore) in Optare Plc. UK, subsidiary, as equity in one or more tranches.

It also announced investments of up to Rs 500 crore in equity shares of Hinduja Housing Finance, a step-down subsidiary, by way of secondary purchase of shares from Hinduja Leyland Finance, a material subsidiary, in one or more tranches.

A community campaign to buy the Bell Inn at Middleton in Suffolk has raised £380,000 towards a £550,000 target, with the actor Ralph Fiennes and the Blackadder actress Helen Atkinson-Wood backing the bid to bring the grade II-listed pub into community ownership.

The 17th-century thatched pub was put up for sale earlier this year by the Southwold brewery Adnams for £425,000. Residents formed a charitable Community Benefit Society to lead the buyout and hope to raise enough to purchase the pub outright.

Thirty residents have bought shares so far, and many plan to make charitable donations, which will benefit from tax relief.

Adnams, best known for its Southwold bitter, has previously enlisted advisers to explore options for raising funds as it sought to secure its financial position.

The Campaign for Real Ale (Camra) says 101 community buyout campaigns are currently active, and puts the number of community-owned pubs in the UK at 237.

Paul Ainsworth, Camra’s national planning and policy advisor, expects the government’s Community Right to Buy Fund, a £61 million package announced by the Ministry of Housing, Communities and Local Government in June, to spur further buyouts.

“I think it will revitalise the whole community ownership scene because money is the root of all these schemes … like the one in Suffolk, £500,000 is not small change so raising that amount of money yourself is quite a challenge,” he said.

Ainsworth said community ownership was “gathering momentum”, adding that “wherever you are in the country you’re not that far from a community-owned pub these days and they’re always very happy to help each other”.

“Community owned pubs have invariably been very successful and there have only been very few instances of these pubs failing,” he said. “It is not surprising as people in the community, more often than not, have a direct or indirect stake in the business as it’s their pub.”

He said community schemes avoided some of the financial pressures faced by tied tenants. “The community buys the freeholds of the pub and that means they aren’t facing the problems that a lot of pub company tenants face where a pub company tenant jacks up the rent and squeezes them dry and rewards their success by trying to get more money out of them.”

“It’s much more manageable from a financial point of view, they’re more in control,” he added.

Gillian Stacey, who is leading the campaign, called the Bell “the focal point of the community” and said it survived the pandemic lockdowns by offering takeaway pints.

“You drive through picturesque villages in Suffolk and when pubs are on the market they become derelict very quickly as this one would do,” she said.

Separate analysis of government data by the property tax firm Ryan found 366 pubs in England and Wales were demolished or converted to other uses in 2025, an average of one permanent closure a day.

Fiennes, who owns a home close to Dunwich Heath, said: “The Bell at Middleton has kept its integrity as a village pub, I mean it has atmosphere, simple, convivial, traditional, friendly. No frills or trying too hard. You feel at home the moment you walk in. And most important it feels ‘Suffolk’.”

“Adnams’ pubs were often synonymous with this quality,” he added. “Post Adnams’ ownership, I hope the Bell finds new management that keeps its spirit intact.”

Atkinson-Wood said: “We need to keep pubs open at the heart of our communities as places to go for a drink and a packet of crisps.”

She said pressure to offer a “gastropub experience” made it harder for traditional drink-first pubs to survive, and that closures in rural villages leave few remaining social spaces.

“Hospitality is a very expensive business and that’s all reflected in going out and eating in pubs,” she added. “That’s why it’s really important to keep pubs where you don’t need to have an oyster banquet when you eat in an East Anglian pub.”

Stacey said that without reaching the target, “many villagers, particularly the more elderly, will be socially isolated”. Upcoming fundraisers include an auction with lots including an etching course, a drive in a Maserati, a lambing day and a day in a Southwold beach hut.

Fiennes said: “Pubs like the Bell are a true expression of their neighbourhood, and I think the best of any country is in the spirit of its neighbourhoods and villages.”

Jamie Young

Jamie Young is Senior Reporter at Business Matters, covering SME finance, employment law and Westminster policy since 2016. He has reported on every Budget and Autumn Statement since 2018, helped make sense of the ‘covid era’ and the bounce-back loan scheme from launch through the fraud investigations, and broke the magazine’s coverage of the 2024 late-payment reforms. He joined Business Matters straight from completing his BA in Administration from Exeter University and is NCTJ-qualified. Reach him at jyoung@cbmeg.co.uk