Aug 4, 2025 - Business

Tesla gives Elon Musk nearly $30 billion in stock

Ben Berkowitz

Elon Musk addresses the media in Hong Kong in 2016. Photo: Nora Tam/South China Morning Post via Getty Images

The board of Tesla awarded Elon Musk 96 million shares of stock as part of a package to keep him on the automaker's management team, the company said in a regulatory filing Monday.

Why it matters: Far from seeking to replace him, as had been reported earlier this year, the company is doubling down on Musk, despite the controversies around his political activities.

Driving the news: In an SEC filing on Monday, the company said the board approved the award over the weekend.

The 96 million shares would vest in two years, provided he's still with the company at that time — either as CEO or "as an executive officer responsible for product development or operations."
Musk will also have to hold the shares through early August 2030.
The award would increase his current holdings of Tesla stock by nearly 25%.

By the numbers: Tesla shares rose about 2% in premarket trading on the news. At the current levels, Musk's award would be worth about $29.6 billion.

The stock is still down 25% this year amid a steadily weakening sales performance.

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Tesla gives Elon Musk nearly $30 billion in stock

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