Tesla Awards owner Elon Musk shares $2.9 billion

Tesla has awarded its CEO Elon Musk a stock worth $29 billion (£21.7 billion) to keep the billionaire at the company.

The move comes after a U.S. court shot down his 2018 salary package Valued over $50 billion, the rule was “unfair to shareholders.”

Musk has been filing a Delaware court decision in 2024, and Tesla told shareholders that “confidence” that the stock’s $200 billion “will inspire Elon to stay with Tesla” and especially “the war on AIDS talent is intensifying.”

The award should increase Musk’s voting rights on the board of directors of electric vehicle companies.

Tesla’s The board of directors wrote on xIt’s a platform that Musk owns, adding: “No one matches Elon’s extraordinary combination of leadership experience, technical expertise”.

The company said billionaires have a “tested record” in building “revolutionary and profitable businesses.”

Trying to claim in the AI industry that its tech companies have been providing huge sums of money to rival workers to convince them to join them and promote their growth.

Facebook founder Mark Zuckerberg is said to have recently tried to attract top developers at Chatgpt-Creator Openai with a million-dollar compensation deal.

Meanwhile, Microsoft’s AI division, led by former Google DeepMind co-founder Mustafa Suleyman, recently received several new employees from Google’s rankings.

Tesla is at a “turning point” state and requires Musk’s ability because it goes from becoming an electric car company to an AI and robotics company.

The company added that the stock award would be attractive to Musk who “replace requirements for his time and attention”.

Musk’s other roles include executive positions at XAI, Neuralink and Boring Company, which has built tunnels and other infrastructure in the United States.

He recently announced that he would step back after an adviser to U.S. President Donald Trump served as U.S. president.