Tesla awards CEO Musk millions of shares valued at about $29 billion

  • by:
  • Source: AP News
  • 08/05/2025
Tesla gave Elon Musk a stock grant of $29 billion on Monday as a reward for years of “transformative and unprecedented” growth despite a recent foray into right-wing politics that has hurt its sales, profits and its stock price.

In giving its billionaire CEO 96 million in restricted shares, the electric car company noted that Musk hasn’t been paid in years because his 2018 compensation package has been rejected by a Delaware court. The award comes eight months after a judge revoked the 2018 pay package a second time. Tesla has appealed the ruling.

Tesla on Monday called the grant a “first step, good faith” way of retaining Musk and keeping him focused, citing his leadership of SpaceX, xAI and other companies. Musk said recently that he needed more shares and control so he couldn’t be ousted by shareholder activists.

Read Full Article Here
 
Elon Musk by Dan Taylor is licensed under flickr http://www.heisenbergmedia.com

Follow us

Read our latest news on any of these social networks!

Get latest news delivered daily!

We will send you breaking news right to your inbox


Have a tip? Let us know!

Recent Articles

...
Supreme Court allows Mississippi to require age verification on social media like Facebook and X

The Supreme Court has refused for now to block enforcement of a Mississippi law aimed at regulating the use of social media by children

...
Florida governor says state will open ‘deportation depot’ immigration jail

Ron DeSantis announced move as judge to decide whether to close ‘Alligator Alcatraz’ facility in Everglades

...
AI used to design antibiotics that can combat drug-resistant superbugs gonorrhoea and MRSA

Antibiotics are used to kill bacteria, but some infections have become resistant to drugs. It is estimated drug-resistant bacterial infections cause nearly five million deaths per year worldwide.

...
Melania Trump makes bombshell $1 billion threat against Hunter Biden after 'inflammatory' Epstein comments

First lady Melania Trump is threatening to sue Hunter Biden for $1 billion after he made the false claim that she was introduced to President Donald Trump by serial pedophile Jeffrey Epstein.