Tesla reported that the salary of its CEO Elon Musk for 2020 was zero dollars. In 2019, its size was $ 23,760, but later Musk asked to stop these payments.
At the same time, top managers of the company receive enough. According to the published Tesla documentation, the salary of, for example, CFO Zachary Kirkhorn for 2020 was $ 46.6 million, and in 2019 it was $ 21.2 million.
Mr. Musk can afford to work with zero wages, his work at Tesla is paid according to a slightly different scheme, and his actual income will still remain high. In 2018, shareholders approved a 10-year plan, according to which Musk-led Tesla set 16 specific goals. If 12 of them are fulfilled, and the company's capitalization reaches $ 650 billion, the head of the company will receive a reward in the form of an option to buy a large block of shares at a fixed price, which is significantly below the market price.
Tesla's capitalization has already surpassed the target and six of its targets have already been met. Therefore, Musk has every chance to receive the remuneration in full, but at the moment the shareholders have already allowed him to transfer four tranches of shares out of 12, into which the entire option is divided. As a result, according to Bloomberg, the estimated premium for 2020 if Musk exercises the options received will be in the region of $ 6.7 billion, which will make Musk the highest paid executive in the United States. But formally he did not receive any money from Tesla last year.
Musk himself is philosophical about his reward. "The reason for using stock options is because they are needed to pay humanity to get to Mars in 10 to 20 years," he wrote on Twitter.
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