In a recent statement by 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 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 $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”.
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Further, giving details on Musk’s contribution towards the company, the statement said that Elon Musk has been serving as the CEO since 2008 and has made major contributions towards the company and have actively participated in the recruitment process of executives and engineers followed by a contribution to vehicle engineering and design, raising capital and bringing investors
As of now, Tesla CEO Elon Musk’s net worth stands at 18,400 crores USD.
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.
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Tesla’s quarterly report in April 2021 hit targets qualifying Chief Executive Elon Musk for two options payouts worth a combined $11 billion. The electric car maker beat Wall Street’s expectations for first-quarter revenue and profit, boosted by record deliveries, robust demand from China and environmental credit sales.
It reported quarterly revenue of $10.39 billion and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $1.84 billion, surpassing milestones that trigger the vesting of the fifth and sixth of 12 tranches of options granted to Musk in his 2018 pay package to buy discounted Tesla shares.
