Infobuxx | Tesla just announced plans for a new $29 billion pay package for Elon Musk

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Tesla just announced plans for a new $29 billion pay package for Elon Musk

Tesla just announced plans for a new $29 billion pay package for Elon Musk

By: Business Posted On: August 04, 2025 View:

Elon Musk attending a press conference in the Oval Office at the White House. — Elon Musk's multibillion-dollar 2018 pay package remains trapped in legal limbo. Chip Somodevilla via Getty Images

Tesla has just unveiled a new $29 billion pay package for Elon Musk.
The EV giant's board said the new "good faith" award was necessary to "incentivize and retain" Musk as CEO.
It comes after Musk's massive 2018 pay package was struck down by a Delaware judge in late 2024.

Tesla has unveiled a new $29 billion pay package for Elon Musk.

The EV giant's board announced on Monday that it had recommended that shareholders grant Musk a "good faith" CEO performance award of 96 million restricted shares of Tesla stock, worth just over $29 billion based on the stock's current value.

It comes as Musk's 2018 pay package, which was worth around $46.8 billion in June, remains in limbo after being struck down by a Delaware judge last December.

In a letter to shareholders, Tesla board members Robyn Denholm & Kathleen Wilson-Thompson said the new package was necessary to "retain and incentivize" Musk amid an "ever-intensifying AI talent war."

This is a developing story. Check back soon for updates.

Read this on Business

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