DNYUZ
  • Home
  • News
    • U.S.
    • World
    • Politics
    • Opinion
    • Business
    • Crime
    • Education
    • Environment
    • Science
  • Entertainment
    • Culture
    • Music
    • Movie
    • Television
    • Theater
    • Gaming
    • Sports
  • Tech
    • Apps
    • Autos
    • Gear
    • Mobile
    • Startup
  • Lifestyle
    • Arts
    • Fashion
    • Food
    • Health
    • Travel
No Result
View All Result
DNYUZ
No Result
View All Result
Home News

Tesla Awards ‘Good Faith’ Shares to Musk Worth $29 Billion

August 4, 2025
in News
Tesla Awards ‘Good Faith’ Shares to Musk Worth $29 Billion
494
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Tesla granted shares to Elon Musk worth around $29 billion, the company said on Monday, describing it as a “good faith” award to help retain the car maker’s chief after his previous multibillion-dollar pay package was struck down by a judge.

The company approved a package of 96 million shares for Mr. Musk, which he could tap after two years of service in a “senior leadership role” at Tesla. The mercurial billionaire, whose business empire includes rockets, artificial intelligence, brain implants and more, hinted last month that he wanted more shares in Tesla, on top of his 13 percent stake. It was a “major concern,” he said on an earnings call with analysts.

Tesla said in a letter to investors that “we know that one of your top concerns is keeping Elon’s energies focused on Tesla.” It said the stock award was “a critical first step toward achieving that goal.” In addition to his businesses, Mr. Musk has dove into politics, steering President Trump’s cost-cutting initiative before they had a falling out, after which the tech billionaire pledged to start a new political party.

Mr. Musk’s previous pay package, awarded in 2018, was struck down last year by Chancellor Kathaleen St. J. McCormick of the Delaware Court of Chancery, ruling that shareholders had not been properly informed of its details and that members of Tesla’s board were not sufficiently independent. Tesla has appealed the decision, with its lawyers arguing that two shareholder votes in favor of the package should have cleared the way for reinstating it.

Tesla is in a profit slump, and the company has not reported an increase in quarterly earnings since the third quarter of 2024. Sales also declined this spring.

The company’s stock has fallen nearly 20 percent this year.

Jason Karaian is the business news director, based in London. He was previously the editor of DealBook.

The post Tesla Awards ‘Good Faith’ Shares to Musk Worth $29 Billion appeared first on New York Times.

Share198Tweet124Share
Russia Presses Ahead With Massed Forces, Drones and Saboteurs
News

Russia Presses Ahead With Massed Forces, Drones and Saboteurs

by New York Times
August 9, 2025

Russia has shown no signs of pulling back in its war against Ukraine. Instead, it has intensified its long-range strikes ...

Read more
News

I’m experimenting with AI in my 70s. I’ve had to adapt to new technologies my entire career — those who embrace change survive.

August 9, 2025
News

At least one killed as firefighters battle Greece blaze for second day

August 9, 2025
News

Trump Wants Admissions Data on Grades and Race, but Who Will Collect It?

August 9, 2025
News

Layoffs? Price Increases? Companies Make Hard Choices as Trump’s Tariffs Set In.

August 9, 2025
How to Watch the Strongest Meteor Shower of the Summer

How to Watch the Strongest Meteor Shower of the Summer

August 9, 2025
The Secret to One Swing State Democrat’s Rise? Wonky TikTok Videos.

The Secret to One Swing State Democrat’s Rise? Wonky TikTok Videos.

August 9, 2025
Inside KPMG’s lavish Florida ‘Lakehouse,’ where interns get drumming parades, soft serve ice cream, and mini-golf

Inside KPMG’s lavish Florida ‘Lakehouse,’ where interns get drumming parades, soft serve ice cream, and mini-golf

August 9, 2025

Copyright © 2025.

No Result
View All Result
  • Home
  • News
    • U.S.
    • World
    • Politics
    • Opinion
    • Business
    • Crime
    • Education
    • Environment
    • Science
  • Entertainment
    • Culture
    • Gaming
    • Music
    • Movie
    • Sports
    • Television
    • Theater
  • Tech
    • Apps
    • Autos
    • Gear
    • Mobile
    • Startup
  • Lifestyle
    • Arts
    • Fashion
    • Food
    • Health
    • Travel

Copyright © 2025.