Tesla CFO Zach Kirkhorn's Exit Package Worth $600 Million

author: FutureCar Staff    

Outgoing Tesla Chief Financial Officer Zach Kirkhorn, who unexpectedly left the company on Monday, has not disclosed his future plans. However, he has a significant amount of money to sustain him until he secures his next job.

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

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

While his annual base salary was relatively modest at $300,000 compared to his departure, Kirkhorn possesses stock holdings and other options valued at around $550 million, as estimated by Bloomberg.

During his tenure, Kirkhorn sold small portions of his Tesla shares on several occasions, as evidenced by Securities and Exchange Commission filings. Most recently, he sold 3,750 shares priced at $261 each on August 8.

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

Following the news of Kirkhorn's resignation, Tesla's stock experienced a 4% decline.

An article published earlier this year by The Wall Street Journal praised Kirkhorn for guiding the company towards profitability. He was viewed as a potential successor to Tesla owner Elon Musk and was considered a stabilizing force in contrast to Musk's flamboyant and often unpredictable nature.

When Kirkhorn assumed the role of CFO, Tesla's market capitalization was $50 billion. Presently, the company's market capitalization stands at $782 billion.

Vaibhav Taneja, Tesla's current head of accounting, will succeed Kirkhorn as CFO while retaining his current responsibilities.

FutureCar Staff