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Tesla Approves $29 Billion Pay Package for Musk

8/4/2025

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Summary

Story summary

Tesla approved a $29 billion pay package for CEO Elon Musk, comprising 96 million shares amid legal disputes over past compensation.
Musk must serve in a key role for two years to access the shares, priced at $23.34 each.
This strategy seeks to secure Musk's leadership as Tesla pivots towards robotaxis and AI, despite sales declines and political issues.
Following the announcement, Tesla shares increased by nearly 2%, although the company has seen a 25% drop in value this year.

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Story summary

Tesla approved a $29 billion pay package for CEO Elon Musk, comprising 96 million shares amid legal disputes over past compensation.
Musk must serve in a key role for two years to access the shares, priced at $23.34 each.
This strategy seeks to secure Musk's leadership as Tesla pivots towards robotaxis and AI, despite sales declines and political issues.
Following the announcement, Tesla shares increased by nearly 2%, although the company has seen a 25% drop in value this year.