Tesla awards Musk $29 billion in shares with 2018 pay package in limbo

Tesla CEO Elon Musk received a temporary payment package with 96 million stakes of the company during the weekend. Stocks will be about 29 billion dollars.

Tesla stock climbed approximately 2% on Monday.

The company said filing Sunday, as a Musk CEO or in another lock manager, as long as the payment package will exist within two years.

If the legal war on the 2018 compensation ends with Musk’s ability to use a larger payment package worth 56 billion dollars, the new award will be lost.

In January, the chancellor Kathaleen McCormick upheld a previous decision in the case, Tornetta / MuskThe compensation plan is given incorrectly. Tesla shareholders approved the payment package in June 2024.

The case is now before the Delaware Supreme Court.

Musk’s 2018 payment package included a number of performance targets for the company.

The judge called the decision of the month of January as “the greatest potential compensation opportunity observed in public markets” and said that Musk was 33 times higher than the closest comparison, the previous compensation package.