Tesla has priced her CEO Elon Musk $ 29BN (£ 21.7bn) the price of her shares, which is trying to keep the billionaire in the firm.
The US court took this step after closing its 2018 pay package, Prices more than $ 50bn, deciding that it was “unfair to shareholders”.
Musk is appealing against the judgment made by the Delaware Court in 2024 and on Monday Tesla told the shareholders that it was “confident” that $ 29BN shares “would encourage Elon to stay in Tesla” especially “War for AI Pratibha”.
The award should promote the voting power of the Musk on the board of the electric car company.
“It is mandatory to maintain and motivate our extraordinary talent, start with Elon”, Tesla Board wrote on XA platform owned by the musk, saying that “no one matches the experience of alone, notable combination of technical expertise”.
The company said that the billionaire had “Siddha track record” in the manufacture of “revolutionary and profitable businesses”.
Tesla said that if the Delaware Court restored Musk’s 2018 pay deal, it would make or return the latest share to avoid “double dip”.
The carmaker’s board stated that it hoped that his chief executive could be awarded the $ 56BN deal, which would be the biggest payment deal in corporate American history.
The deal was structured in such a way that if Mr. Musk did not hit a few milestones – such as Tesla’s market value, sale and underlying advantage – they would not be paid at all.
But that Access the goals that were kept out,
Musk’s appeal to restore its pay packets argued that the lower court made legal errors while saving its pay package. He has earlier said that it should be the shareholder of the company who fixes salary.
Musk’s latest salary deal comes as the tech firms trying to make themselves vocal in the AI sector have offered huge amounts in rivals in an attempt to promote them and promote their development.
Facebook founder Mark Zuckerberg had said that recently the chat-creator Openai was tried to woo top developers with a million-dollar salary deals.
Meanwhile, Microsoft’s AI Division, former Google Deepmind co-founder Mustafa Suleman recently received several new rent from the rank of Google.
The Tesla company was on an “inflammatory point” and required Musk’s skills as it was an electric vehicle firm for AI and robotics -focused company.
The company stated that the share award “will be attractive to Musk with” other “with demands on their time and attention”.
Other roles of Musk include executive positions in Xai, Neurlink and Boring Company, which creates tunnels and other infrastructure in the US.
He recently announced that he was returning from politics after a term as advisor to US President Donald Trump.
