Tesla is awarding Elon Musk around $29 billion in shares as a legal battle looms over a prior multibillion dollar compensation plan for the chief executive.

A special committee of the company's board of directors said the interim pay package would motivate Musk to "stay focused" on Tesla as the electric vehicle maker pivots to robotics and artificial intelligence.

Under the pay plan, Musk would receive 96 million shares valued at around $300 each as long as he remains in an executive position at Tesla for the next two years. On Musk's social media platform X, the special committee said the executive has not received "meaningful compensation" for his work for eight years.

One of the world's richest people, Musk owns about 13% of Tesla shares, making him the largest individual shareho

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