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 yet revealed his future plans. However, he is in a financially stable position with ample funds to sustain himself until he secures his next job.

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

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

Although his base salary was a modest $300,000 per year at the time of his departure, Kirkhorn's stock holdings and other options are valued at around $550 million, as calculated by Bloomberg.

Securities and Exchange Commission filings indicate that Kirkhorn 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 valued at $261 each. Combining these sales with his stock holdings and other benefits, Bloomberg estimates his total worth to be $590 million.

Upon the announcement of Kirkhorn's departure, Tesla's stock declined by 4%.

An article published earlier this year in The Wall Street Journal credited Kirkhorn with guiding the company towards profitability. He was considered a potential successor to Tesla owner Elon Musk and was seen as a balancing presence alongside his boss, known for his bombastic and unpredictable nature.

When Kirkhorn assumed the role of CFO, Tesla's market capitalization stood at $50 billion. Today, it has grown to a staggering $782 billion.

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

FutureCar Staff