Technology

Tesla says Elon Musk's 2020 compensation was nil

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Aug 13 (Reuters) - Tesla Inc (TSLA.O) 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.

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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. REUTERS/Michele Tantussi

As of April, Musk had qualified for Tesla options in his 2018 pay package that are now worth over $30 billion. read more

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." (https://reut.rs/3iLUKzu)

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.

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

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