AsianFin -- Tesla Inc. has granted CEO Elon Musk 96 million new shares worth approximately $29 billion, a move designed to retain the billionaire entrepreneur’s leadership as he battles a court decision that invalidated his previous compensation agreement.

In 2024, a Delaware court struck down Musk’s 2018 pay package—then valued at over $50 billion—ruling that the Tesla board’s approval process was flawed and did not adequately protect shareholders’ interests.