Tesla Says CEO Elon Musk’s 2020 Compensation Was Nil

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Elon Musk had qualified for Tesla options in his 2018 pay package (File)

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.”

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

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)



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