Tesla Musk grants $ 29 billion in stocks with the 2018 payment package to fold

Timing CEO Elon Musk He got a paid package of 96 million shares from the company during the weekend. The stock value is about $ 29 billion.

Timing stock I went up about 2 % on Monday.

The company said in a presentation Sunday that Payment package It would expand within two years as long as musk continues as an executive or another major executive position.

The new prize will be confiscated if the legal battle over its compensation for 2018 ends with the MUSK ability to exercise the largest wage package, which amounted to $ 56 billion.

In January, Chancellor Cathaline McCromic supported a pre -judgment in the case, Tornetta V. MuskThe compensation plan was incorrectly granted. Tesla shareholders agreed to the payment package in June 2024.

The case is now before the Supreme Court of Delaware.

The Musk 2018 payment package included a set of performance goals of the company, which were all achieved.

The judge described her as “the largest possible compensation opportunity observed in public markets” in her decision in January and said that it was 33 times higher than the closest comparison, which was the previous compensation package in Musk.

The payment announcement comes after a weak profit report from EV maker As Tesla was absent at the bottom and bottom, with sales decreased for the second quarter in a row and cars revenue decreased by 16 %.

Musk admitted the loss on the horizon on the tax of EV on a call with analysts after the report.

“Maybe we had a few rough circles. I don’t say that we will do it, but we can,” Musk said.

The company has another shareholder meeting in November.

Lora Kolodny from CNBC contributed to this report.