Tesla awards Elon Musk $29 billion in stock

Tesla has awarded CEO Elon Musk 96 million shares, valued at approximately $29 billion. This move comes as Musk battles a Delaware court ruling that voided his original 2018 compensation agreement, which was worth more than $50 billion.

The court ruled that the approval process used by Tesla’s board of directors was flawed and unfair to shareholders. In March, Musk began appealing the court ruling that voided his record-breaking compensation package, claiming that the lower court judge made several legal errors in his decision.

Earlier this year, Tesla announced that its board had formed a special committee to review certain matters related to Musk’s compensation, without revealing further details.