Tesla’s head of finance received a pay package that amounted to more than most chief executives.
Vaibhav Taneja’s pay package last year notched more than $139 million, which was tied to stock options and equity awards, according to a regulatory filing. The figure eclipsed the total compensation that a handful of CEOs at the largest companies by revenue took home, according to Equilar.
Equilar’s Equilar 100 report includes the largest pay packages awarded to CEOs from U.S.-based or listed companies with more than $1 billion in revenue that filed proxy statements for fiscal year 2023 by April 30, 2024.
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Taneja has been with the electric-car maker long before being appointed its CFO in August 2023. Taneja served as its chief accounting officer since March 2019, as corporate controller from May 2018 and as assistant corporate controller between February 2017 and May 2018.
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According to a regulatory filing at the end of April, Tesla’s board has formed a special committee to “consider certain compensation matters” for its top boss, Elon Musk, who recently declared that he has no plans to step down as the leader of the electric carmaker.
“Yes, no doubt about that at all,” Musk said in response to a question about his continued tenure as Tesla’s CEO.
He was asked about whether he plans to stay at Tesla as CEO for the next five years and whether he has any doubts about that.
“Well, no, unless I die,” Musk laughingly replied. “I can’t be CEO if I am dead.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 345.20 | +3.11 | +0.91% |
Musk’s role as the leader of the Department of Government Efficiency (DOGE) has raised concerns among some investors about Musk’s focus on Tesla, as well as his other businesses like SpaceX and xAI, which contributed to a slide in Tesla’s stock alongside soft demand for EVs.
As of Tuesday, the company’s stock has slipped more than 13% year to date. Additionally, for the first time in more than 10 years, global vehicle deliveries also fell in the first quarter.
The automaker announced in April that its first-quarter deliveries dropped 13% amid slowing consumer demand for electric vehicles (EVs) and controversy surrounding Musk’s political involvement in the Trump administration.
FOX Business’ Eric Revell contributed to this report.
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