Tesla says CEO Elon Musk's compensation for 2020 was nil

Reuters
Washington Published: Aug 14, 2021, 08:17 AM(IST)

Tesla CEO Elon Musk (file photo). Photograph:( Reuters )

Story highlights

Tesla Inc said, Chief Executive Officer Elon Musk's total compensation for 2020 was nil in comparison to $23,760 in 2019. In a regulatory filing, the electric-car maker also said finance chief Zachary Kirkhorn's total compensation was $46.6 million, versus the $21.2 million he got in 2019

Tesla Inc said on Friday, Chief Executive Officer Elon Musk's total compensation for 2020 was nil, compared to $23,760 in 2019.

The electric-car maker also said in a regulatory filing that finance chief Zachary Kirkhorn's total compensation was $46.6 million, versus the $21.2 million he got in 2019.

The pay package of Musk, who is also a major shareholder and CEO of rocket maker SpaceX, requires Tesla's market capitalisation and financial growth to hit a series of rising targets.

As of April, Musk had qualified for Tesla options in his 2018 pay package that are now worth over $30 billion.

Tesla added "Technoking of Tesla" to Musk's list of official titles in a regulatory filing in March that also named Kirkhorn "Master of Coin."

Earlier this month, Reuters reported that Musk will be also subject of a biography by Walter Isaacson, the US author, who penned a best-selling tome on Apple co-founder Steve Jobs.

Read in App