Tesla says Elon Musk’s 2020 pay was zero – .

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Tesla says Elon Musk’s 2020 pay was zero – .


Aug.13 (Reuters) – Tesla Inc (TSLA.O) said on Friday that CEO Elon Musk’s total compensation for 2020 was zero, down from $ 23,760 in 2019.

The electric car maker also said in a regulatory filing that the total compensation for CFO Zachary Kirkhorn was $ 46.6 million, up from $ 21.2 million in 2019.

The salary package for Musk, who is also a major shareholder and CEO of rocket maker SpaceX, requires Tesla’s market capitalization and financial growth to meet a series of rising targets.

In April, Musk qualified for Tesla options in his 2018 salary package, which are now worth more than $ 30 billion. Read more

Tesla added “Technoking of Tesla” to Musk’s official title list in a regulatory filing in March that also named Kirkhorn “Master of Coin.” (https://reut.rs/3iLUKzu)

Earlier this month, Reuters reported that Musk would also be the subject of a biography of Walter Isaacson, the American author who wrote a bestselling book on Apple co-founder Steve Jobs.

Reporting by Tiyashi Datta in Bengaluru; additional reporting by Noel Randewich in Oakland, California; Editing by Maju Samuel and Sonya Hepinstall

Our Standards: Thomson Reuters Trust Principles.

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