Outgoing Tesla CFO Zach Kirkhorn Is Leaving With A Fortune Worth $590 Million
Outgoing Tesla CFO Zack Kirkhorn is making out like a bandit in exiting Tesla.
In fact, Kirkhorn is going to be reaping a fortune of $590 million upon his departure from the company, Bloomberg wrote this week. He amassed the net worth in just four years at the helm of Tesla's finances, the report says.
Despite not being part and parcel with the gargantuan compensation package the board awarded Elon Musk in 2018, Kirkhorn's monstrous $590 million net worth is mostly made up of Tesla shares and options, the report says.
His base salary was only $300,000 in 2022, but his options have a net value of about $550 million.
"I would like to thank Zach Kirkhorn for his many contributions to Tesla over the course of 13 often difficult years. Much appreciated and best wishes for the next stage of his career," Musk wrote about Kirkhorn earlier this week, after the news of his departure was announced on Monday.
Kirkhorn had been with the company for 13 years. Tesla filed an 8-K Monday morning which stated that "Kirkhorn stepped down as of August 4, after a thirteen-year tenure with the company, the last four years of which he has served as Master of Coin and Chief Financial Officer."
The company "appointed Vaibhav Taneja as Chief Financial Officer in addition to his current role as Chief Accounting Officer, to succeed Zachary Kirkhorn," the regulatory filing reads. Taneja is 45 years old.
Taneja has experience working for Tesla and Musk, having previously worked as "Tesla’s Chief Accounting Officer since March 2019, as Corporate Controller from May 2018, and as Assistant Corporate Controller between February 2017 and May 2018".
He also "served in various finance and accounting roles at SolarCity Corporation from March 2016", the filing concludes.
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