Tesla says Elon Musk's 2020 compensation was nil
[BENGALURU] 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 Mr 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 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 Mr 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.
REUTERS
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Brokers’ take: SAC Research initiates ‘buy’ on Soilbuild with S$0.04 target
Scoot begins flights with Embraer E190-E2 jet
VinFast’s EV ambitions get a reality check as shares plunge 65%
Boeing probed in US over possible falsified records on 787
Tesla lays off more staff in software, service teams, Electrek reports
GLP says 2025 bond repayment sources identified