Musk’s pay package requires Tesla's market capitalisation and financial growth to hit a series of rising targets.
Tesla added "Technoking of Tesla" to Musk's list of official titles in a regulatory filing in March
Tesla said on CEO Elon Musk's total compensation for 2020 was nil, compared to $23,760 (roughly Rs. 18 lakhs) in 2019.
The electric-car maker also said in a regulatory filing that finance chief Zachary Kirkhorn's total compensation was $46.6 million (roughly Rs. 345 crores), versus the $21.2 million (roughly Rs. 160 crores) 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 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 $30 billion (roughly Rs. 2,22,520 crores).
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 US author who penned a best-selling tome on Apple co-founder Steve Jobs.
© Thomson Reuters 2021
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