Elon Musk, the boss of Tesla, obtained authorization to buy 96 million shares of the company at a price of 23.34 dollars (20.14 euros), said the manufacturer in a document deposited with the American stock market regulator on Monday, August 4. At the end of the New York Stock Exchange on Friday, the action ended at $ 302.60 (261.17 euros), which values this remuneration “Temporary” at some $ 29 billion (just over 25 billion euros).
The remuneration of Elon Musk has been the subject of a legal battle for years. A plan, validated in 2018 in an extraordinary assembly by Tesla, planned to give Mr. Musk Tesla actions according to the achievement of several objectives over ten years. It was estimated during its adoption at some $ 56 billion.
But a Delaware judge, seized by a shareholder, canceled it in January 2024. She considered that the shareholders had received information “Erroned” et “Deceptive” Regarding the board of directors and the remuneration committee, upstream of the general meeting during which the plan was approved.
“Interim reward”
The soap opera continued. In mid-June 2024, the remuneration plan was again validated by Tesla shareholders. In December 2024, he was again rejected by the justice of Delaware. Tesla, who appealed the decision, had since set up a special committee responsible for studying the question.
“The Special Committee and the Board of Directors have carefully deliberated on the decision to grant this interim reward in a context marked by the war of talents in artificial intelligence, more and more intense, and by the critical position of Tesla at a crucial inflection point”argued Tesla on network X, which belongs to Elon Musk on Monday. “To recognize what Elon has accomplished and the extraordinary value he has brought to Tesla and our shareholders, we believe that it is necessary to take measures to honor the agreement concluded in 2018. After all,” an agreement is an agreement “”Tesla continues.
Monday at midday, in electronic exchanges before the opening of the New York Stock Exchange, the Tesla title gained 2.4 % at 309.90 dollars (267.47 euros).
