The “interim” package announced on Monday was intended to help retain Elon Musk, whose previous pay plan was invalidated by a judge.

Tesla's board approved a compensation package for Elon Musk worth about $29 billion in order to keep the chief executive focused on the company.

Tesla is awarding Elon Musk over $29 billion of stock in an "interim" pay plan designed to maintain his interest in the company while a larger pay package awarded in 2018 remains held up in court.