Associated Press Business Writer Michelle Chapman
Tesla is awarding Elon Musk with around $29 billion in valuation stock, just six months after a judge ordered the company to cancel his large pay package.
The electric vehicle maker said in a regulatory filing Monday that Musk will first have to pay Tesla a limited share of $23.34 per share.
In December, Delaware Premier Catalyn St. Jude McCormick reaffirmed his previous ruling that Tesla had to cancel a multi-billion-dollar salary package for masks. She discovered that Musk designed the Landmark pay package in fake negotiations with non-independent directors.
At the time, McCormick rejected a large, unprecedented fee request by the plaintiff’s lawyers. The judge said the lawyer is entitled to the $345 million fee award.
The ruling comes in a lawsuit filed by Tesla shareholders who challenged Musk’s 2018 compensation package.
The potential maximum for that paid package was around $56 billion, but its total has fluctuated over the years based on Tesla’s stock price.
Musk appealed the order in March. A month later, Tesla said in a regulatory submission it was creating a special committee to view mask compensation as CEOs.
Original issue: August 4, 2025, 7:28am EDT
