Tesla Chief Executive Officer, Elon Musk has been granted a $29 billion pay package by the company’s board, marking another massive compensation deal amid ongoing legal and shareholders scrutiny.
This package, tied to Musk’s controversial 2018 performance award, comes as Tesla continue to fight a Delaware court’s decisions to strike down the original agreement after a shareholder lawsuit.
Musk is currently appealing the court’s ruling. In a letter to shareholders on Monday, August 4, 2025, Tesla’s board emphasized that Musk has “not received meaningful compensation for eight years” and reaffirmed the company’s ongoing legal efforts to reinstate the 2018 package.
“There’s no clear timeline for resolution”, the letter stated.
The deal would grant Musk 96 million Tesla shares, each currently trading above $300, at a fixed purchase price of $23.34 per share – the same terms set in the 2018 agreement.
-9News Nigeria.
