Opendoor Technologies Inc. (NASDAQ:OPEN) CEO Kaz Nejatian is working for a base salary of just $1 in cash, yet he has secured a staggering $741 million accounting valuation in pure stock-based “alignment”—an aggressive, milestone-driven compensation package that mirrors the legendary moonshot incentive structures of Tesla Inc. (NASDAQ:TSLA).
The $741 Million Breakdown
According to data compiled by The Wall Street Journal, Nejatian’s nine-figure compensation ranks him among the highest-paid executives in the country, despite his near-zero cash salary.
The $741 million figure reflects the upfront accounting value of an 82 million share package issued to draw the executive away from his lucrative former role at Shopify Inc. (NASDAQ:SHOP).
Prominent investor Anthony Pompliano had earlier defended the deal against critics, noting that the company successfully hired “a guy making a gazillion dollars at Shopify” by paying him virtually nothing upfront.
