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Tesla Grants Musk $29 Billion in Shares
Financial Express Bengaluru
|August 05, 2025
TESLA HAS GRANTED 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.
The company described the grant of the 96 million new shares as a first step, "good faith" payment to honor Musk's more than $50 billion pay package from 2018 that was struck down by a Delaware court last year.
A longer-term CEO compensation plan will be put to a vote at its annual investor meeting on November 6.
The Delaware ruling had cited flaws in the board's approval process and unfairness to investors. Musk kicked off an appeal against the order in March, claiming a lower court judge made multiple legal errors in rescinding the record compensation.
This story is from the August 05, 2025 edition of Financial Express Bengaluru.
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