Tesla awards boss Elon Musk 29bn in shares

"It is imperative to retain and motivate our extraordinary talent, beginning with Elon", Tesla's board wrote on X, a platform owned by Musk, adding that "no one matches Elon's remarkable combination of leadership experience, technical expertise". The company said the billionaire had a "proven track record" in building "revolutionary and profitable businesses". Tech firms trying to assert themselves in the AI sector have been offering huge sums to workers at rivals in an effort to persuade them to join them and boost their development. Facebook founder Mark Zuckerberg was said to have recently tried to lure top developers from ChatGPT-creator OpenAI with million-dollar pay deals. Meanwhile Microsoft's AI division, headed up by former Google DeepMind co-founder Mustafa Suleyman, recently gained several new hires from Google's ranks. Tesla the company was at an "inflection point" and needed Musk's prowess as it pivots from being an electric vehicle firm to an AI and robotics focussed company.