Tesla's board has agreed to give Elon Musk $29 billion worth of company shares after a court rejected a previous and even a larger compensation package.
Right now, Musk controls 13% of the voting rights at Tesla but after getting the new stock, Musk will now have more control over Tesla's decision.
In 2018, SpaceX founder was set to receive a share reward worth over $50 billion, the largest pay package ever given to anyone in the world.
However, after a long legal battle, a judge in Delaware canceled the board's decision to give him that reward.
As per multiple reports, the new reward, equal to 96 million new shares aims to motivate Musk to keep working hard for the company's success and future growth.
This concern grew after tech billionaire started getting involved in politics and spending time with US President Donald Trump which led to a deterioration in their relationship.
Because of Musk's previous connection with Trump and his involvement in reducing federal government spending, Tesla has faced a drop in sales.
Tesla is also facing more difficulties as the Trump administration has reduced support for electric vehicles (EVs).
Musk is unhappy with the president's tax cut and spending policies which are referred to as "big beautiful bills."
Tesla is now concentrating on launching a new, more affordable car to help increase its declining sales and compete more strongly with other carmakers, especially those from China.
