Tesla CFO Zach Kirkhorn's Departure Comes With a Hefty $600 Million

author: FutureCar Staff    

Outgoing Tesla Chief Financial Officer Zach Kirkhorn, who suddenly left the company on Monday, has not revealed his next career move. However, he has substantial financial resources to support himself until he finds a new job.

According to Bloomberg's analysis of securities filings, Kirkhorn, also known as the "master of coin" in SEC filings, has a net worth of approximately $590 million.

Kirkhorn joined Tesla in 2010 as a senior analyst and steadily climbed the corporate ladder until he was appointed CFO in 2019.

Although his annual base salary was relatively modest at $300,000 compared to his departure, Kirkhorn's stock holdings and other options are valued at around $550 million, as calculated by Bloomberg.

During his tenure, Kirkhorn sold small portions of his Tesla shares on multiple occasions, as indicated by Securities and Exchange Commission filings. His most recent sale was on August 8, when he sold 3,750 shares valued at $261 each.

When combining these transactions with his stock holdings and other benefits, Bloomberg determined that Kirkhorn's total net worth amounts to $590 million.

Following the news of Kirkhorn's departure, Tesla's stock declined by 4%.

An article from The Wall Street Journal earlier this year credited Kirkhorn with guiding the company to profitability. He was seen as a potential successor to Tesla owner Elon Musk and a stabilizing influence in contrast to Musk's often unpredictable behavior.

When Kirkhorn assumed the role of CFO, Tesla's market capitalization was $50 billion. It has since soared to $782 billion.

Vaibhav Taneja, the current head of accounting at Tesla, will take over as CFO while retaining his current position.

FutureCar Staff