Can you guess SpaceX CEO Elon Musk's compensation for 2020? Tesla reveals in a statement
By Team Newsable | First Published Aug 14, 2021, 11:55 AM ISTMusk's compensation structure, which includes being a significant stakeholder and CEO of rocket company SpaceX, needs Tesla's market capitalization and financial growth to meet a series of escalating benchmarks.
Elon Musk, Tesla CEO and SpaceX CEO, cryptocurrency Dogecoin market mover, Bitcoin lover, and meme poster on social media for Gen-Z. Can you predict his Tesla salary for 2020, despite owning so many assets and operating a great business? Tesla Inc has announced that Chief Executive Officer Elon Musk's total salary for 2020 will be zero, compared to $23,760 in 2019.
In a regulatory filing, the firm also stated that finance head Zachary Kirkhorn's total pay was $46.6 million, up from $21.2 million in 2019. Musk's compensation structure, which includes being a significant stakeholder and CEO of rocket company SpaceX, needs Tesla's market capitalization and financial growth to meet a series of escalating benchmarks.
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Musk had qualified for Tesla options in his 2018 compensation package as of April, which are currently valued more than $30 billion.
In a regulatory filing in March, Tesla added "Technoking of Tesla" to Musk's list of formal titles, which also included Kirkhorn as "Master of Coin." According to media reports, Musk, who is also a significant shareholder and CEO of rocket company SpaceX, does not earn a salary at Tesla. His compensation plan is contingent on Tesla's market capitalization and financial growth meeting a series of increasing targets.
Tesla's quarterly report in April 2021 exceeded expectations, qualifying Chief Executive Elon Musk for two option payments totaling $11 billion.
Musk stated in an old video from 2008 that when “someone buys a Tesla Roadster, (which then cost $100,000$) sports car, every cent that Tesla generates goes into the creation of a smaller, lower-priced vehicle.”
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