Tesla has approved a fresh share award worth about US$29 billion for CEO Elon Musk in an effort to keep him at the helm as the company pivots from its core electric vehicle (EV) business to emerging

Tesla has granted its chief executive Elon Musk $29bn (£21.7bn) worth of its shares, in an attempt to keep the billionaire at the firm. The move comes after a US court struck down his 2018 pay package, worth more than $50bn, ruling that it was "unfair to shareholders".

Despite the headaches Tesla has faced from Elon Musk’s political antics, the company’s board just signed off on a new pay package for the CEO that is worth a whopping $29 billion.