Elon Musk keeps $56bn after Tesla cancels $29bn interim pay
Business
Tesla just canceled a $29 billion interim pay package for Elon Musk, now that a court has restored his original $56 billion award from 2018.
The board (minus Elon and his brother) made the call to avoid paying him twice. So, Musk keeps his massive 2018 package: no double-dipping.
Elon Musk pay conditional 20Mcars 1Mrobotaxis
Musk's future mega-compensation is still on the table, but only if Tesla hits some huge goals, like making 20 million cars and launching 1 million robotaxis within the 10-year term of the 2018 award (i.e., by 2028).
Also, to keep markets steady, he can't cash out those stocks unless he stays as Tesla's boss until at least 2028.