
Tesla proposes giving Elon Musk $29 billion so he stays CEO
Andrew J. Hawkins
created: Aug. 4, 2025, 12:59 p.m. | updated: Aug. 4, 2025, 5:38 p.m.
Last year, a Delaware court voided Musk’s pay package, valued at more than $50 billion, arguing that the deal was flawed and unfair to shareholders and that Musk held undue influence over its composition.
Tesla’s stock has shed more than 20 percent of its value so far this year.
Still, Tesla’s board sees Musk’s continued involvement as essential to the company’s future.
Musk is currently Tesla’s largest shareholder, with a 13 percent stake in the company.
But the CEO has said he wants more control over the company in order to have more sway over its mission — which this plans aims to produce.
2 weeks ago: The Verge