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Indian-origin Tesla CFO Vaibhav Taneja tops 2024 pay with $139 mn package
Vaibhav Taneja, Tesla's Chief Financial Officer (CFO), received a staggering $139 million in total compensation in 2024 — making him the highest-paid CFO since modern disclosure standards began in 2006, according to a report by The Wall Street Journal. The Indian-origin executive's pay package far outstripped that of many prominent tech CEOs, including Microsoft's Satya Nadella and Google parent Alphabet's Sundar Pichai.
In comparison, Nadella earned $79.1 million in 2024, while Pichai received $10.73 million, as per Alphabet's 2025 Proxy Statement. Taneja's massive payout not only eclipsed both but also shattered the previous CFO pay record of $86 million set by Nikola's then-CFO in 2020 — before the hydrogen-truck maker filed for bankruptcy this year.
Tesla CFO's stock windfall
Taneja's compensation was largely driven by stock options and equity awards granted in October 2024, following his promotion to CFO in August 2023. At the time of the award, Tesla shares were trading around $250 and have since climbed to approximately $342 as of May 19, 2025. The equity vests over four years, locking in significant long-term value for Taneja, the news report said.
A crucial juncture for Tesla
Taneja's record-setting compensation arrives at a critical moment for Tesla. The company is grappling with multiple challenges — shrinking profit margins, intensified EV competition, and declining deliveries. In the first quarter of 2025, global vehicle deliveries dropped 13 per cent, and net profit plunged 71 per cent, marking the automaker's first annual decline in deliveries in over a decade.
Despite these headwinds, Tesla's stock rallied in late 2024, supported in part by political developments, including the election of President Donald Trump.
Musk's compensation under scrutiny
Meanwhile, Tesla CEO Elon Musk is embroiled in a legal battle over his own compensation. A Delaware court earlier this year voided Musk's $56 billion pay package — one of the largest in corporate history. Musk is currently appealing the ruling, arguing that his compensation was instrumental in driving Tesla's meteoric rise.
Who is Vaibhav Taneja?
Born in India, Taneja holds a Bachelor of Commerce degree from Delhi University and is a Chartered Accountant from the Institute of Chartered Accountants of India (2000), as well as a Certified Public Accountant (2006). He joined Tesla in 2017 after working at SolarCity, which Tesla acquired in 2016. At SolarCity, he served as vice-president and corporate controller and played a key role in merging the two companies' accounting teams.
Taneja previously spent 17 years at PricewaterhouseCoopers, where he rose to the role of senior manager in Assurance. He also serves as a director at Tesla India Motors and Energy Private Limited, actively contributing to the company's expansion in India.
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