US EditionTesla Awards Elon Musk $29B Worth of Shares, Months After Pay Package Was Revoked
NEW CASTLE COUNTY, DELAWARE, AUG 4 – Tesla granted Elon Musk 96 million restricted shares worth $29 billion to retain him amid AI competition and legal disputes over his prior $56 billion pay plan.
- On Monday, Tesla's board announced a $29 billion stock package for Elon Musk, citing the AI talent war and Musk's value to shareholders.
- Amid legal setbacks, a Delaware court twice invalidated Musk's $56 billion 2018 award, and Tesla is appealing to the Delaware Supreme Court.
- Requiring a two-year vesting period with a five-year holding requirement, Musk must pay $23.34 per share, valuing Tesla shares at roughly $26.7 billion, conferring 16% voting control.
- Tesla shares rose more than 2% before the market open, and Wedbush maintained its Outperform rating with a $500 price target, with Dan Ives saying the award was the right move to retain Musk.
- Ives predicted the award will keep Musk as CEO at least until 2030, and Tesla said the package may be voided if the Delaware Supreme Court overturns the 2024 ruling.
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19 Articles
kreiszeitung.de
merkur.deElon Musk is waving a billion-dollar share package from Tesla. The tech billionaire hopes for more control, the company wants to benefit from its talents.
Tesla executes ‘a must’ with Musk as race to AI supremacy goes on: Wedbush
Tesla (NASDAQ: TSLA) executed what Wedbush’s Dan Ives called “a must” this morning as it finalized a new pay package for its CEO Elon Musk. The move helped give Musk his first meaningful compensation at Tesla since 2017, when the company offered a pay package that was based on performance and proven growth. That package was approved by shareholders on two separate occasions, but was denied to Musk both times by the Delaware Chancery Court. On Mo…
Tesla awards Elon Musk $29B worth of shares, months after pay package was revoked
Tesla is awarding CEO Elon Musk 96 million shares of restricted stock valued at approximately $29 billion, just six months after a judge ordered the company to revoke his massive pay package.
Tesla gives Musk $29B to keep his ‘energies focused’
The NewsTesla is giving Elon Musk $29 billion in stock to keep his “energies focused” on the carmaker rather than his sprawling space, AI, and brain-science empire — plus his ambitions to remain a player in US politics after his high-profile split with President Donald Trump.The last time Tesla tried to reward and incentivize Musk, a $56 billion pay package granted in 2018 tied to revenue and market-capitalization milestones was twice nixed by a…
Tesla's board of directors has approved the allocation of nearly $30 billion (almost €26 billion) of stock to Tesla CEO Elon Musk.
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