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Dec 15, 2025 8:00 AM

Tesla Board Members Rake In Over $3 Billion In Stock Awards Despite 2021 Pay Freeze: Report

The board members of Tesla Inc. (NASDAQ:TSLA) have reportedly amassed over $3 billion through stock awards, collectively, surpassing the value of similar incentives at other major U.S. tech firms.

Tesla Board Stock Awards Scrutinized

An analysis by compensation and governance specialist Equilar and Reuters disclosed that Tesla’s board members have reaped these substantial rewards despite not awarding themselves new stock grants since 2020.

Tesla board members have earned massive sums over the years, with Kimbal Musk making nearly $1 billion since 2004, Ira Ehrenpreis $869 million since 2007, and chair Robyn Denholm $650 million since 2014.

Even though the board members agreed to halt director compensation from 2021 onwards to settle a lawsuit filed by shareholders alleging excessive pay, they had already received an average of about $12 million in cash-and-stock compensation between 2018 and 2020.

This amount was roughly eight times greater than what the average director at Alphabet.com