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 “interim” package announced on Monday was intended to help retain Elon Musk, whose previous pay plan was invalidated by a judge.