Tesla board to grant Elon Musk $29B stock holdings to keep him on as CEO

Description

Tesla has handed Elon Musk 96 million shares worth around $29 billion in an attempt to hold onto him as CEO while he pushes back against a court ruling that canceled his previous compensation package. The new award, approved by the board and disclosed in a filing, is nearly identical in structure to the 2018 deal that a Delaware judge threw out in 2024 for being unfair to shareholders. The court said the board’s process at the time was flawed, with board members too close to Musk to act independ...