US EditionTesla Approves Share Award Worth $29 Billion to CEO Elon Musk
UNITED STATES, AUG 4 – Tesla's new 96 million-share award for Elon Musk is valued at about $29 billion and requires Musk to maintain senior leadership and stock holding for five years.
- Monday’s disclosure by Tesla revealed a proposed award of 96 million shares to Elon Musk, vesting in two years and worth roughly $29 billion.
- Amid a pivotal moment in its AI strategy, Tesla cited the ever-intensifying AI talent war and said the package would be voided if the Delaware Supreme Court overturns the January 2024 decision by Judge Kathaleen McCormick.
- Under the proposal, Elon Musk receives 96 million shares vesting in two years with a five-year holding requirement, valued at roughly $26.7 billion, and must pay $23.34 per share.
- Ahead of the annual shareholder meeting in November, Musk threatened to stop AI and robotics work at Tesla unless he gains more control, and the vote will decide on his compensation package.
- In the wider AI talent race, Musk’s maneuvers reflect a multi-million-dollar talent war among leading firms and xAI, his external AI company that owns X.
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Tesla: It's Payday for Elon Musk
The world's richest man just got a few light-years further away from the poorhouse: Tesla's board announced that it's payday for CEO Elon Musk, who it said in a Monday letter to shareholders has "not received meaningful compensation for eight years." And it's a hefty one, reports CNN . A look:...
·Miami, United States
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Total News Sources222
Leaning Left43Leaning Right22Center80Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
L 30%
C 55%
15%
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