Tesla to award Elon Musk nearly $29 Billion in shares
U.S. electric vehicle manufacturer Tesla has announced that its Board of Directors will grant CEO Elon Musk a stock bonus worth approximately $29 billion.
- World
- Agencies and A News
- Published Date: 09:23 | 05 August 2025
In a letter sent to shareholders, the board noted that Musk has not received a performance-based payment since 2017. Despite ongoing legal challenges in Delaware courts regarding his 2018 compensation package, the board emphasized Musk's "transformative and unprecedented" leadership.
The letter stated that the bonus is intended as a "goodwill gesture" to encourage Musk to remain with Tesla. A special committee's recommendation to award Musk restricted stock equal to about one-third of the original 2018 package was unanimously approved.
Under the plan, 96 million shares will be granted to Musk, conditional on his staying with the company for the next two years.
Earlier, Delaware Judge Kathaleen McCormick had blocked Musk's previous $56 billion pay package, calling it an "unfathomable sum" and criticizing the board's process as unfair, even though shareholders approved the deal in a 2024 vote.
The value of Musk's package has fluctuated over time as it is tied to Tesla's stock price.