Tesla (TSLA) Finance Chief Gets Record $139 Million Pay Package
Electric vehicle maker Tesla (TSLA) has achieved a new milestone with a record $139 million pay package awarded to its chief financial officer (CFO) Vaibhav Taneja.
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The pay awarded to Taneja is more than most CEOs receive, and the highest amount ever paid to a CFO, according to Equilar, a company that specializes in executive intelligence and tracks compensation among senior managers at publicly traded companies.
The pay package awarded to Tesla's CFO Taneja surpasses the $86 million awarded to hydrogen-truck maker Nikola's CFO back in 2020. Nikola filed for bankruptcy earlier this year. Taneja's compensation is largely tied to stock options and equity awards he received in October 2024. The 47-year-old has held other financial roles at Tesla since 2017.
Musk's Pay
News of Taneja's big pay day comes as Tesla CEO Elon Musk continues to work without a paycheck. Tesla's board has formed a special committee to review Musk's compensation. His pay has been tied up in legal wrangling since a multibillion dollar stock grant awarded to him by Tesla's board of directors was voided by a judge after shareholders filed a lawsuit. The automaker is appealing the court decision.
Taneja's stock awards vest, or become his property, in 2028. The CFO's pay was awarded during a period of volatility at Tesla. While the stock has risen following the re-election last autumn of U.S. President Donald Trump, Tesla's electric vehicle deliveries fell during this year's first quarter for the first time in more than a decade.
TSLA stock has declined 15% this year.
Is TSLA Stock a Buy?
The stock of Tesla has a consensus Hold rating among 37 Wall Street analysts. That rating is based on 16 Buy, 10 Hold, and 11 Sell recommendations issued in the last three months. The average TSLA price target of $282.61 implies 17.37% downside from current levels.
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