Tesla's board has authorized a $30bn share award to Elon Musk, contingent upon a previous pay agreement overturned by a US court. Musk will spend $2bn to acquire 96 million shares at the price established in a 2018 10-year pay package, which is pending legal resolution. The award is characterized as a good faith gesture after a $56bn deal was annulled by a Delaware judge in 2024. Board members highlighted Musk's achievements and emphasized the need to honor past agreements while acknowledging concerns about his attention to Tesla amid his political engagements.
Tesla's board has approved the award of $30bn worth of shares to Elon Musk after a previous pay deal was ruled against by a US court.
Musk will pay $2bn for 96m shares at the same price as the 10-year pay package agreed in 2018, which is awaiting a court date.
The award is described as a good faith payment to Musk after a previous $56bn pay deal was rescinded by a judge in Delaware.
Tesla board members recognized Musk's accomplishments, stating that honoring the 2018 bargain is necessary and acknowledging concerns about his focus on Tesla.
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