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Tesla says Elon Musk's 2020 compensation was nil

Tesla says Elon Musk's 2020 compensation was nil

SpaceX founder and Tesla CEO Elon Musk looks on as he visits the construction site of Tesla's gigafactory in Gruenheide, near Berlin, Germany, May 17, 2021. (Photo: REUTERS/Michele Tantussi)

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

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

Source: Reuters

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