Tesla Says CEO Elon Musk's 2020 Compensation Was Nil

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.

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