Tesla grants Elon Musk 96 million shares to achieve its mission in AI, robotics, and renewable energy

Tesla awarded Elon Musk 96 million shares worth $29 billion as an interim compensation package while his 2018 pay award remains blocked by Delaware courts, according to a Tesla Oracle report.

The electric vehicle giant granted this massive interim award to retain Musk as CEO and drive Tesla's transformation from an automaker into an AI and robotics company. Tesla's board emphasized Musk's indispensable leadership role as the company transitions its mission to "advance humanity through artificial intelligence, robotics, and sustainable technology." The award makes Musk the highest-paid CEO in history and includes provisions preventing double compensation if his original 2018 package gets reinstated.

• The interim package is worth approximately one-third of Musk's blocked 2018 compensation, which could reach $90 billion if fully reinstated
• Tesla shares must vest over two years with Musk serving continuously in senior leadership, plus a mandatory five-year holding period
• The award addresses shareholder concerns about keeping Musk focused on Tesla amid intensifying competition for AI talent
• Tesla's Special Committee plans to present a longer-term CEO compensation strategy at the November shareholder meeting