Tesla CEO 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 $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 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.
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”.
Musk will be the subject of an upcoming biography by Walter Isaacson, the US author who penned a bestselling tome on Apple co-founder Steve Jobs. — Reported by Tiyashi Datta with, additional reporting by Noel Randewich, (c) 2021 Reuters