ISTANBUL

US electric vehicle (EV) giant Tesla announced late Sunday that the CEO, Elon Musk, will be given a stock bonus worth approximately $29 billion.

"On August 3, 2025, the Company approved an award of 96 million shares of restricted stock ('2025 CEO Interim Award') to Mr. Musk under the Company's 2019 Equity Incentive Plan ('2019 Plan')," the firm said in a securities filing.

The pay package would vest in two years, Tesla said, provided Musk remained CEO or in another important executive role.

If the legal dispute over Musk's 2018 remuneration is resolved and Musk can activate the larger pay package, which was worth $56 billion, the new award will be lost, according to CNBC.

A previous decision in the matter of "Tornetta v. Musk," which concluded that the compensation plan was wrongly authorized, was affirmed in January by Chancellor Kathaleen McCormick.

In June 2024, the compensation plan was approved by Tesla shareholders.

The Delaware Supreme Court is now considering the case, as Musk's 2018 compensation plan contained a list of firm performance goals, all of which were met.

In her January ruling, the court referred to it as "the largest potential compensation opportunity ever observed in public markets" and calculated that it was 33 times more than the closest comparable, Musk's previous incentive plan.

Following the news, Tesla's stock climbed more than 1.1% as of 1530GMT.