US Edition
Tesla Approves Share Award Worth $29 Billion to CEO Elon Musk
UNITED STATES, AUG 4 – Tesla's new 96 million-share award for Elon Musk is valued at about $29 billion and requires Musk to maintain senior leadership and stock holding for five years.
- Monday’s disclosure by Tesla revealed a proposed award of 96 million shares to Elon Musk, vesting in two years and worth roughly $29 billion.
- Amid a pivotal moment in its AI strategy, Tesla cited the ever-intensifying AI talent war and said the package would be voided if the Delaware Supreme Court overturns the January 2024 decision by Judge Kathaleen McCormick.
- Under the proposal, Elon Musk receives 96 million shares vesting in two years with a five-year holding requirement, valued at roughly $26.7 billion, and must pay $23.34 per share.
- Ahead of the annual shareholder meeting in November, Musk threatened to stop AI and robotics work at Tesla unless he gains more control, and the vote will decide on his compensation package.
- In the wider AI talent race, Musk’s maneuvers reflect a multi-million-dollar talent war among leading firms and xAI, his external AI company that owns X.
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BizToc
BizTocTesla awards Elon Musk $29 billion in stock amid compensation battle. What to know
Tesla's board approved a compensation package for Elon Musk worth about $29 billion in order to keep the chief executive focused on the company.
·Los Angeles, United States
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He has appealed the decision that annulled the huge 56 billion package he was due to receive in 2018.
Coverage Details
Total News Sources309
Leaning Left57Leaning Right31Center116Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
L 28%
C 57%
15%
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