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

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.

Musk is currently Tesla’s largest shareholder, with a 13 percent stake in the company. But the CEO has said he wants more control over the company in order to have more sway over its mission — which this plans aims to produce.