Tesla has awarded CEO Elon Musk 96 mln shares valued at approximately $29 bn, according to a recent filing, in a move aimed at retaining the billionaire amid ongoing leadership and compensation tensions, as reported by The Telegraph.
The interim 2025 grant comes as the company continues to battle shareholder unrest over a previously voided $56 bn pay package from 2018, which a Delaware court ruled was «excessive.» Musk is currently appealing that decision.
Musk, already Tesla’s largest shareholder with a 12.7% stake, has publicly stated he would be uncomfortable leading the company without at least 25% voting control, warning he could be ousted by activist investors.
In a letter to shareholders, Tesla emphasised the need to retain Musk, citing a «war for AI talent» and his role in driving innovation, including future plans in AI, robotics, and autonomous vehicles.
The company described Musk’s leadership as «unmatched,» adding the award would help attract and retain talent while boosting long-term shareholder value.
Tesla shares rose over 2% in pre-market trading following the announcement.
Kursiv Uzbekistan also reports Uzbekistan has shown interest in importing cotton from the United States.
