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 has a substantial amount of money to sustain himself until he secures 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 began his journey with 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 a modest $300,000 compared to his departure, Kirkhorn possesses stock holdings and other options valued at around $550 million, as calculated by Bloomberg.

Securities and Exchange Commission filings reveal that he has sold small portions of his Tesla shares on multiple occasions during his tenure. Most recently, on August 8, he sold 3,750 shares worth $261 each.

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

Upon the announcement of Kirkhorn's resignation, Tesla's stock dropped by 4%.

Earlier this year, a Wall Street Journal article credited Kirkhorn with steering the company towards profitability. He was also viewed as a potential successor to Tesla owner Elon Musk, providing a more balanced and predictable approach.

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

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

FutureCar Staff