Know how much Elon Musk earned as compensation from Tesla in 2020

On Friday, electric-car maker Tesla Inc said that its Chief Executive Officer Elon Musk's total compensation for 2020 was nil. In 2019, his compensation was USD 23,760.

In its regulatory filing, Tesla said that Finance Chief Zachary Kirkhorn's total compensation for 2020 was a whopping USD 46.6 million compared to USD 21.2 million in 2019.

The pay package of 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, Elon Musk had qualified for Tesla options in his 2018 pay package that are now worth over USD 30 billion.

Tesla says Elon Musk's 2020 compensation was nil https://t.co/zxFhJAguZx pic.twitter.com/mVV6ZBXTV1

— Reuters (@Reuters) August 13, 2021

Earlier this year, Elon Musk raced ahead of Amazon founder Jeff Bezos to become the richest person on the planet. But Musk did not remain on top for long and Bezos once again became the world's richest man.

Musk became the richest man on the planet after his net worth increased more than USD 150 billion this year and Tesla's share price surged a massive 743% in 2020.

The billionaire businessman is the founder of eight companies namely Tesla, SpaceX, Hyperloop, OpenAI, Neuralink, The Boring Company, Zip2, PayPal.

Though Elon Musk is the majority shareholder and CEO of the SpaceX rocket maker he draws no salary from the company. Tesla's shares have receded from record highs in 2021 after jumping more than eight-fold last year.

US Senators, Bernie Sanders and Elizabeth Warren tabled a bill in March aimed at punishing firms who pay their executives excessively more than workers.

(With Reuters Inputs)