Tesla seeks shareholder approval for new $29B compensation package for Elon Musk
Tesla is asking shareholders to greenlight a new $29 billion stock award for CEO Elon Musk, designed to retain his leadership amid intensifying AI and robotics initiatives. The proposal follows a court ruling that voided Musk’s 2018 $56B pay deal, citing unfair terms. Under the new plan, Musk would remain CEO until at least 2027. If the original package is reinstated, the new grant may be voided to avoid duplication. Shareholders will vote on the matter in November.
The move underscores Tesla’s reliance on Musk during a critical phase in its AI and robotics ambitions — and highlights broader tensions between executive control and shareholder rights.
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