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yesterday

Tesla Board Approves $29 Billion Interim Equity Award for Musk

The board moved to lock in Musk’s leadership through a two-year vesting schedule ahead of a Delaware Supreme Court decision on his voided 2018 award

Tesla CEO Elon Musk just got a huge pay day.
Visitors at the Tesla booth during the 3rd China International Supply Chain Expo at the China International Exhibition Center, in Beijing, China, Friday, July 18, 2025. (AP Photo/Mahesh Kumar A.)
FILE - Elon Musk speaks at the Conservative Political Action Conference, CPAC, at the Gaylord National Resort & Convention Center, Thursday, Feb. 20, 2025, in Oxon Hill, Md. (AP Photo/Jose Luis Magana, File)
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Overview

  • Tesla’s board unanimously approved an interim grant of 96 million restricted shares valued at about $29 billion, with Musk and his brother recusing themselves from the vote.
  • The shares vest over two years provided Musk remains in a senior leadership role and pays $23.34 per share, matching the split-adjusted price of the voided 2018 package.
  • The award carries a five-year mandatory holding period and includes safeguards to prevent Musk from receiving both this grant and any reinstated 2018 award.
  • A special committee recommended the proposal, citing intensifying competition for AI talent and Musk’s commitments across ventures such as xAI and SpaceX.
  • Tesla is awaiting a Delaware Supreme Court ruling on the 2018 CEO package and has slated a November shareholder vote on its long-term CEO compensation plan.