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 has handed its chief executive, Elon Musk, shares worth almost $30bn after the billionaire warned he could leave unless he was given greater control over the company. In a filing, Tesla said it had awarded Mr Musk 96m shares valued at roughly $29bn as part of an interim 2025 award.