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Tesla approves share award worth $29 billion to CEO Elon Musk

4 August 2025, 3:44 pm

1 min read

FILE PHOTO: Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of Twitter, gestures as he attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre in Paris, France, June 16, 2023. REUTERS/Gonzalo Fuentes/File Photo

Reuters was more than one-and-a-half minutes ahead of rivals on the news that carmaker Tesla had granted CEO Elon Musk shares worth about $29 billion in a new pay deal aimed at keeping the billionaire entrepreneur at the helm. Shares of the company rose 2% after the news on Monday.

Why it matters

The move is meant to keep Musk, the public face of Tesla and architect of its robotaxi strategy, focused on the electric-vehicle maker as it navigates a shift to cybercabs and robotics from its mainstay auto business.