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 gave Elon Musk a stock grant of $29 billion on Monday as a reward for years of “transformative and unprecedented” growth despite a recent foray into right-wing politics that has hurt its sales,

The company described the "interim award" as "good faith" payment to honor Musk's more than $50 billion pay package from 2018 that was struck down by a Delaware court last year.