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[By Jai Hamid](https://www.cryptopolitan.com/author/jai/) - Updated: August 4 2025 11:50 AM UTC 3 mins read 778857 *Photo by [Maxim](https://unsplash.com/photos/a-car-with-its-door-open-on-display-in-a-museum-j2Ss2gOMCzs)* ## Contents [1\. Tesla links Elon Musk’s shares to new voting control](https://www.cryptopolitan.com/tesla-elon-musk-29-billion-in-stock-holdings/#Tesla_links_Elon_Musks_shares_to_new_voting_control) [2\. Tesla struggles in China while Musk’s politics hit global demand](https://www.cryptopolitan.com/tesla-elon-musk-29-billion-in-stock-holdings/#Tesla_struggles_in_China_while_Musks_politics_hit_global_demand) Share link: ### In this post: - Tesla granted Elon Musk 96 million shares worth \$29 billion to keep him as CEO during his legal appeal. - Elon must pay \$23.34 per share to unlock the award, matching his canceled 2018 deal. - Tesla’s China shipments fell 8.4% in July due to local competition and limited product lineup. **Tesla has handed Elon Musk 96 million shares worth around \$29 billion in an attempt to hold onto him as CEO while he pushes back against a court ruling that canceled his previous compensation package.** The new award, approved by the board and disclosed in a filing, is nearly identical in structure to the 2018 deal that a [Delaware judge threw out](https://www.cryptopolitan.com/elon-musk-defends-teslas-future-ai-grok/) in 2024 for being unfair to shareholders. The court said the board’s process at the time was flawed, with board members too close to Musk to act independently. [According](https://www.bloomberg.com/news/articles/2025-08-04/tesla-china-shipments-fall-again-in-slow-summer-period?taid=68908e9f48014a0001275556&utm_campaign=trueanthem&utm_content=business&utm_medium=social&utm_source=twitter) to Bloomberg, Elon filed an appeal in March. He argued the judge made serious legal mistakes when tossing out his earlier pay deal. While that fight plays out, the Tesla board isn’t wasting time. ### Tesla links Elon Musk’s shares to new voting control The board’s special committee said in the filing, “While we recognize Elon’s business ventures, interests and other potential demands on his time and attention are extensive and wide-ranging … we are confident that this award will incentivize Elon to remain at Tesla.” The 96 million shares won’t be handed over immediately. Elon must pay \$23.34 per share to get the stock to vest, matching the same exercise price from the 2018 award. That would require him to spend billions of dollars from his own pocket if he wants to unlock the full grant. [See also Musk's Tesla on the hook for \$243M after Autopilot crash in Florida from 2019](https://www.cryptopolitan.com/tesla-on-the-hook-for-243m-autopilot-crash/) This new stock package is also structured to gradually give Elon more voting power. Both he and other shareholders have argued that increasing his control is necessary to keep him focused on Tesla’s long-term goals. The committee confirmed this again in the same filing, saying the award is built around that specific purpose. Elon currently owns about 13% of [Tesla](https://www.cryptopolitan.com/tesla-signs-4-3b-battery-deal-lges/), and this new award could help him increase his grip on the company without having to buy stock on the open market. Tesla’s business strategy is also changing. Elon is now ditching the plan for a low-cost electric vehicle and turning the company’s attention to robotaxis and humanoid robots. The company has already started calling itself more of a robotics and AI platform than a traditional carmaker, which makes Elon’s presence even more critical, according to the board, especially as Tesla heads into uncharted product categories. The company’s stock climbed more than 2% in premarket trading after news of the new compensation hit the market. ### Tesla struggles in China while Musk’s politics hit global demand Tesla’s sales numbers in China continue to slide. In July 2025, the Shanghai plant shipped 67,886 units, which is an 8.4% drop compared to the same month a year earlier. The data came from the China Passenger Car Association. They didn’t split the numbers between domestic sales and exports, but the trend has been bad for most of the year. Out of the seven months that have reported data so far, six have shown a drop in shipments from that plant. [See also Nvidia gets price target boost from Morgan Stanley ahead of August earnings](https://www.cryptopolitan.com/nvidia-price-target-boost-morgan-stanley/) The decline is tied to heavier competition from local Chinese rivals like BYD and Xiaomi. Xiaomi’s new [YU7 SUV](https://www.cryptopolitan.com/xiaomi-yu7-launch-tesla-ev-struggles-china/) is directly competing with Tesla’s Model Y and is already grabbing attention in the market. Tesla’s lineup in China is limited, and it’s struggling to keep up. In response, Tesla is preparing to release a new [six-seat version](https://www.cryptopolitan.com/tesla-introduces-bigger-model-y-in-china/) of the Model Y, hoping to attract family buyers and regain some ground. Meanwhile, the rest of the EV market in China is booming. EV and hybrid sales jumped 25% in July to 1.18 million units. That kind of growth is unusual for midyear, which is usually a slow period for car sales. Tesla’s share of that growing market is shrinking fast, and there’s no sign yet that a turnaround is coming. The company’s problems aren’t limited to China. Globally, Tesla is dealing with softer demand. Elon’s political activity and public statements are turning off buyers in Europe and the United States. Consumers are walking away from the brand, and the [Q2 earnings numbers](https://www.cryptopolitan.com/tesla-alphabet-ibm-lead-off-earnings/) showed it. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. [Register Now](https://www.cryptopolitan.com/free-defi-web-class-coming-soon/?utm_source=cryptopolitan&utm_medium=banner&utm_campaign=defi-waitlist) ### Share link: Read Disclaimer ***Disclaimer.** The information provided is not trading advice. [Cryptopolitan.com](https://www.cryptopolitan.com/%20) holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.* ## Most read Loading Most Read articles... ### Stay on top of crypto news, get daily updates in your inbox ## Editor's choice Loading Editor's Choice articles... [PrevPreviousMalaysia to spend \$150B on US tech, LNG to avert 19% tariff in trade talks](https://www.cryptopolitan.com/malaysia-to-spend-150b-to-avert-tariff/) ### Sign up and stay on the top Stay informed with Cryptopolitan’s newsletters — delivered straight to your inbox. 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