Tesla CFO's Departure Yields Massive $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 is financially secure with a substantial amount of money to sustain himself until he finds his next 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 initially joined Tesla as a senior analyst in 2010 and steadily climbed the corporate ladder, eventually becoming the CFO in 2019.

Although 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.

SEC filings indicate that he has sold small portions of his Tesla shares at various points during his tenure. In his most recent transaction on August 8, he sold 3,750 shares at a value of $261 each.

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

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

An earlier Wall Street Journal article highlighted Kirkhorn's role in leading the company to profitability. He was considered a potential successor to Tesla owner Elon Musk and was seen as a stabilizing presence in contrast to Musk's often unpredictable nature.

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

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

FutureCar Staff