Tesla approves $29 billion in shares to Musk as court case rumbles on

Electric vehicle maker Tesla handed its chief executive Elon Musk a $29 billion pay package Monday, as a lengthy legal battle over his compensation winds on.

The company said it “intends to compensate its CEO for his future services commensurate with his contributions to our company and shareholders.”

“We have recommended this award as a first step, ‘good faith’ payment,” it added when announcing the board’s approval of granting new shares to Musk.