Tesla has awarded CEO Elon Musk $29 billion (£21.7bn) in shares to retain him amid an intensifying AI talent war, following a Delaware court’s 2024 decision to void his $50 billion 2018 compensation package as unfair to shareholders, per BBC News. Tesla’s board, posting on X, expressed confidence that the award will keep Musk, whose leadership and technical expertise are unmatched, at the helm.
The share grant aims to boost Musk’s voting power on Tesla’s board as the company shifts toward AI and robotics. If the court reinstates his 2018 $56 billion package—tied to milestones like market value and profit, which Musk met—he would return the new award to avoid double compensation. Tesla faces fierce competition, with rivals like Meta and Microsoft offering huge sums to AI talent, per Reuters.
Musk, also leading xAI, Neuralink, and The Boring Company, recently stepped back from advising U.S. President Donald Trump. The Tesla share award underscores Tesla’s strategy to secure Musk’s focus. Stay updated on this pivotal move in the AI race!
