Tesla Says CEO Elon Musk's 2020 Compensation Was Nil

Tesla said on CEO Elon Musk's total compensation for 2020 was nil, compared to $23,760 (roughly Rs. 18 lakhs) in 2019.

The electric-car maker also said in a regulatory filing that finance chief Zachary Kirkhorn's total compensation was $46.6 million (roughly Rs. 345 crores), versus the $21.2 million (roughly Rs. 160 crores) 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 (roughly Rs. 2,22,520 crores).

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.

© Thomson Reuters 2021