Elon Musk has been granted a staggering $29 billion stock award from Tesla, consisting of 96 million shares. This substantial package aims to secure his continued leadership as the company pivots towards innovative ventures such as robotaxis and humanoid robots.
Despite recent challenges, including a court ruling that nullified his previous compensation plan, Tesla's board believes this incentive will keep Musk focused on the company's future. Critics have raised concerns about the financial implications of this award, labeling it a repackaged version of an earlier plan.
As competition for top talent intensifies, the move is seen as a strategic effort to maintain Musk's influence and direction at Tesla. With Musk's net worth fluctuating amid various pressures, including political controversies, this compensation package is positioned as a necessary step to retain a visionary leader amidst a shifting market landscape.
The upcoming annual meeting will address a longer-term compensation strategy, emphasizing Tesla's commitment to its growth and innovation goals.
