Elon Musk, the CEO of Tesla, has been granted 96 million extra shares worth approximately $29 billion.
This action is intended to retain Musk at the helm while he challenges a court decision that declared his initial compensation agreement unjust to shareholders.
A Delaware court ruled in 2024 that Musk’s 2018 bonus package, which was worth over $50 billion, was void because the Tesla board’s approval procedure was faulty and unjust to shareholders.
Source (CNBC)
