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Latest Breaking News

Mr. Sparkle

(3,465 posts) Mon Aug 4, 2025, 10:07 AM Aug 4

Tesla awards boss Elon Musk $29bn in shares

Source: BBC

Tesla has granted its chief executive Elon Musk $29bn (£21.7bn) worth of its shares, in an attempt to keep the billionaire at the firm. The move comes after a US court struck down his 2018 pay package, worth more than $50bn, ruling that it was "unfair to shareholders". Musk has been appealing against the decision made by the Delaware court in 2024 and on Monday Tesla told shareholders it was "confident" that the $29bn of shares "will incentivize Elon to remain at Tesla" especially as "the war for AI talent is intensifying".

The award should boost Musk's voting power on the electric car company's board. "It is imperative to retain and motivate our extraordinary talent, beginning with Elon", Tesla's board wrote on X, a platform owned by Musk, adding that "no one matches Elon's remarkable combination of leadership experience, technical expertise". The company said the billionaire had a "proven track record" in building "revolutionary and profitable businesses".

Tesla said if the Delware court reinstated Musk's 2018 pay deal, he would forfeit or return the latest share aware to avoid a "double dip". The carmaker's board said it hoped its chief executive could be awarded the deal worth $56bn, which would be the biggest pay deal in corporate American history.

Read more: https://www.bbc.com/news/articles/cz71vn1v3n4o

15 replies

= new reply since forum marked as read

Highlight:

Tesla awards boss Elon Musk $29bn in shares (Original Post) Mr. Sparkle Aug 4 OP

Idiots. niyad Aug 4 #1

There needs to be a cap on bonuses like this Nigrum Cattus Aug 4 #12

That "AI talent" had Tesla's self-driving technology based on optical recognition William Seger Aug 4 #2

They should have given him $29B if he would LEAVE. His name is SHIT in the consumer buying world Bengus81 Aug 4 #3

The board is filled with muskrat toadies sdfernando Aug 4 #4

lets make that stock price worthless! Keep up the presure, find a tesla takedown every Saturday at a showroom near you! Blues Heron Aug 4 #5

Tesla kool-aid must be laced with Special K. littlemissmartypants Aug 4 #6

Despite the fact Jilly_in_VA Aug 4 #7

When Musk is the problem, more Musk is not the solution. Midnight Writer Aug 4 #8

Greedy AF Quanto Magnus Aug 4 #9

There are Teslas around but I saw the electric dumpster today. Don't see many. twodogsbarking Aug 4 #10

I've only seen two, but both might have been the same one. rickford66 Aug 4 #13

I wonder how much he would have gotten Miguelito Loveless Aug 4 #11

Makes me ill. We are such a dysfunctional society. Nt BootinUp Aug 4 #14

What? iemanja Aug 5 #15

niyad

(126,335 posts)

1. Idiots.

Reply to Mr. Sparkle (Original post)

Mon Aug 4, 2025, 10:15 AM

Aug 4

Nigrum Cattus

(906 posts)

12. There needs to be a cap on bonuses like this

Reply to niyad (Reply #1)

Mon Aug 4, 2025, 02:58 PM

Aug 4

No one is worth even 100 million, let alone almost $30,000,000,000

William Seger

(11,756 posts)

2. That "AI talent" had Tesla's self-driving technology based on optical recognition

Reply to Mr. Sparkle (Original post)

Mon Aug 4, 2025, 10:20 AM

Aug 4

... apparently oblivious or unconcerned how dangerous that was in low visibility. It's already caused deaths, and it will continue to do so while muskrat counts and recounts his billions.

Bengus81

(9,194 posts)

3. They should have given him $29B if he would LEAVE. His name is SHIT in the consumer buying world

Reply to Mr. Sparkle (Original post)

Mon Aug 4, 2025, 10:22 AM

Aug 4

but his cult lemmings ignore that fact. Maybe they can get Trumps new BLS commissioner to write their quarterly financials.

sdfernando

(5,873 posts)

4. The board is filled with muskrat toadies

Reply to Mr. Sparkle (Original post)

Mon Aug 4, 2025, 10:41 AM

Aug 4

no other business in the world would give the person that single-handedly trashed and lost huge market share for their company a "reward" of 29bln. Its insane!