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