Tesla grants Elon Musk $29 billion in stock.

Tesla has allocated $29 billion (£21.7 billion) in shares to its CEO, Elon Musk, in a bid to retain the billionaire's services within the company.

This decision follows a ruling by a US court that invalidated his 2018 compensation package, which exceeded $50 billion, deeming it "unfair to shareholders."

Musk has been contesting the Delaware court's ruling from 2024, and on Monday, Tesla informed its shareholders that it is "confident" that the $29 billion in shares "will motivate Elon to stay with Tesla," particularly as "the competition for AI talent is escalating."