Elon Musk's salary was zero in 2020, confirms TESLA in recent statement

In a recent statement by Tesla Inc, the company's Chief Executive Officer Elon Musk's last year's income was zero. Issuing a regulatory filing, the electric car-maker company made several announcements regarding the company's upcoming programs. 

The statement says that Musk's income in 2019 was $23,760, however, it was nil in 2020. According to the statement, the base salaries are based on individual roles, performance, and competitive market. 

Elon Musk's salary

It says that "Mr. Musk historically earned a base salary that reflected the applicable minimum wage requirements under California law, and he was subject to income taxes based on such base salary. However, he has never accepted his salary. Commencing in May 2019 at Mr. Musk’s request, we eliminated altogether the earning and accrual of this base salary."

Tesla CEO and Amazon shareholder of the company has also qualified options in his pay package in 2018 which is now was over billions. 

Base salaries of other Tesla officials

Further, the statement shows the income of other officials including Zachary Kirkhorn, Jerome Guillen, and Andrew Baglino. Tesla Finance Chief Zachary Kirkhorn received 46.6 million in 2020.

Further, giving details on Musk's contribution towards the company, the statement said that Elon Musk has been serving as the CEO since 2008 and has made major contributions towards the company and have actively participated in the recruitment process of executives and engineers followed by a contribution to vehicle engineering and design, raising capital and bringing investors. 

As of now, Tesla CEO Elon Musk's net worth stands at 18,400 crores USD. 

(Image Credits: AP)