Tesla CFO exits Elon Musk-led company after 4 years with $590 million fortune
Breaking Business News: Zachary Kirkhorn, Tesla's Chief Financial Officer, departs the company led by visionary Elon Musk following an impressive tenure of four years and an astronomical wealth of $590 million.
Earlier this week, Zachary Kirkhorn, the Chief Financial Officer of Tesla, resigned from his position, having accumulated a substantial fortune of $590 million. While this may seem impressive, it pales in comparison to the astonishing net worth of CEO Elon Musk, who boasts an impressive $230.6 billion. Kirkhorn managed to amass his wealth during his four-year tenure as CFO.
Based on information gathered by Bloomberg, the majority of the amount includes Tesla stocks and options that Kirkhorn obtained as part of his remuneration. In 2022, he earned a relatively modest basic salary of $300,000. According to the latest proxy filing of the company, Kirkhorn utilized $31,099 from his accumulated paid time off to acquire a Tesla.
Tesla executives, including Kirkhorn, were not included in the substantial pay package given to Musk by the Tesla board in 2018. Interestingly, this amount played a role in propelling the billionaire entrepreneur to the highest position in worldwide wealth standings.
ALSO CHECK: Introducing Vaibhav Taneja, Tesla's newly appointed CFO of Indian descent.
Kirkhorn entered the realm of Tesla in the year 2010, assuming the role of an esteemed financial analyst. Over time, he ascended the ranks with a remarkable five promotions. Just this year, at the tender age of 34, he assumed the prestigious position of Chief Financial Officer. Numerous individuals acknowledge Kirkhorn's essential contribution to Tesla's evolution, as his adept financial management helped shape the company into a well-organized and financially prosperous manufacturer.
The sudden departure of the Tesla finance chief has sparked inquiries, although numerous individuals still hold a reserved sense of hope regarding the former Chief Accounting Officer Vaibhav Taneja's performance in the position. Tesla has not disclosed the cause for the resignation of this longstanding employee who was previously regarded as a potential replacement for CEO Elon Musk.
After serving at Tesla for a remarkable period of 13 years, Kirkhorn has decided to extend his stay until the year's end in order to provide assistance during the transition of management. Kirkhorn's exit comes at a time when Tesla is in the process of constructing a fresh factory in Mexico and getting ready to introduce its Cybertruck pickup to the market, all while facing stiff competition in the ever-growing electric vehicle industry.
(With contributions from various news organizations)
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Latest Update: 10th August 2023, 4:52 AM Indian Standard Time.
