Tesla handed Elon Musk $30B in shares after he threatened to quit

9 months ago

Tesla awarded Elon Musk a compensation deal of 96 million shares worth about $30bn to retain him as CEO.
A US court rejected Musk’s 2018 compensation package, valued at over $50bn, deeming it unfair to shareholders.
Musk is appealing the court's decision, which could increase his Tesla ownership from 13% to over 20%.
Tesla’s board formed a special committee to address Musk’s compensation, emphasizing his importance to the company.
Tesla highlighted Musk’s leadership in transitioning the company from EVs to AI, robotics, and related services.
Musk has not received significant compensation for eight years, and Tesla is working to reinstate his 2018 pay package.
The new award aims to boost Musk’s voting power, seen as key to keeping him focused on Tesla’s mission.
Tesla’s customer loyalty dropped after Musk endorsed Donald Trump, but it has since partially recovered.
Musk’s endorsement of Trump led to a decline in Tesla’s repeat customer rate, which later rebounded slightly.

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