Tesla is awarding CEO Elon Musk 96 million shares of restricted stock valued at approximately $29 billion, just six months after a judge ordered the company to revoke his massive pay package.
The electric vehicle maker said in a regulatory filing on Monday that Musk must first pay Tesla $23.34 per share of restricted stock that vests, which is equal to the exercise price per share of the 2018 pay package that was awarded to the company’s CEO.
My half-baked theory is that the Saudis backed Musk’s takeover of Tesla with the idea that he would fuck the company up and completely discredit electric cars. And despite his best efforts, Teslas became incredibly popular anyway.
…Springtime for Tesla!