TESLA APPROVES SHARE AWARD WORTH $29 BILLION TO CEO ELON MUSK

Tesla has granted CEO Elon Musk shares worth about $29 billion in a new pay deal aimed at keeping the billionaire entrepreneur at the helm during a crucial pivot from its struggling core auto business to robotaxis and humanoid robots.

The company described the "interim award" of the 96 million new shares as a first step, "good faith" payment to honor Musk's more than $50 billion pay package from 2018 that was struck down by a Delaware court last year.

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