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.

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

Tesla is awarding Elon Musk over $29 billion of stock in an "interim" pay plan designed to maintain his interest in the company while a larger pay package awarded in 2018 remains held up in court.