Edith Hejberg
The worlds richest man, just ot a whole lot richer
Tesla has just handed its CEO, Elon Musk, a staggering $29 billion (£21 billion) payday. The award comes in the form of 96 million Tesla shares, a massive windfall even for the world’s richest man.
Recognition for ‘Extraordinary Work’
In a letter to shareholders, Tesla credited Musk’s “unique vision and leadership” for steering the company beyond electric vehicles and renewable energy toward artificial intelligence, robotics, and advanced tech services.
Designed to Keep Musk at the Helm
The company says the deal is aimed at ensuring Musk stays put. Tesla wants him focused on driving shareholder value and attracting top talent to the company during its next phase of growth.
The Bigger Picture: An Interim Award
This $29 billion stock package isn’t Musk’s only potential mega-payout. Tesla calls it an “interim award,” tied to a legal dispute over a separate and even bigger compensation plan from 2018.
The Controversial $56 Billion Package
In 2018, Tesla approved a CEO Performance Award worth $56 billion (£42 billion). But earlier this year, a Delaware court voided the deal, calling it “unfathomable” and suggesting board members were “starry eyed” by Musk.
What Happens if Musk Wins His Appeal
If Musk eventually prevails in the court fight and receives the 2018 package, Tesla says he would forfeit either the new award or part of the old one to avoid any “double dipping.”
Conditions Attached to the Award
To receive the $29 billion in shares, Musk must continue serving in a senior leadership role at Tesla for at least the next two years.
This is a clear attempt to keep him focused on the company’s ambitions.
A Direct Response to Shareholder Concerns
Tesla’s letter says the award tackles a top priority for both the board and investors: keeping Musk “energised” and locked in on Tesla’s transformation into a leader in AI and robotics.
Musk’s Expanding Empire
Beyond Tesla, Musk has co‑founded ventures including xAI, The Boring Company, and Neuralink.
He also bought social platform X (formerly Twitter) in 2022 and has been linked to political advisory roles in the U.S.
The Richest Man Gets Richer
With a net worth now estimated at $400.9 billion, Musk sits comfortably at the top of Forbes’ rich list.
This latest award cements his status as not just a business icon, but the wealthiest person on Earth.
