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Tesla approves share award worth $29 billion to CEO Elon Musk
August 06, 2025
|Business World Philippines
TESLA has granted Chief Executive Officer (CEO) Elon Musk shares worth about $29 billion in a new pay deal aimed at keeping the billionaire entrepreneur at the helm during a crucial pivot from its struggling core auto business to robotaxis and humanoid robots.
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The company described the “interim award” of the 96 million new shares as a first step, “good faith” payment to honor Mr. Musk’s more than $50-billion pay package from 2018 that was struck down by a Delaware court last year.
Mr. Musk can claim the new award if he remains in a top executive role for another two years and a court does not reinstate the 2018 package currently on appeal.
He has to hold the shares for five years and can buy them for $23.34 per share, the same as the exercise price of the 2018 award. Tesla will also put to vote a longer-term CEO compensation plan at its annual investor meeting on Nov. 6.
هذه القصة من طبعة August 06, 2025 من Business World Philippines.
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