The company called the stock deal an “interim award” after a court struck down his last pay package, worth $50 billion, in 2018.

Tesla has granted CEO Elon Musk 96 million shares worth about $29 billion, a move aimed at keeping the billionaire entrepreneur at the helm.

The “interim” package announced on Monday was intended to help retain Elon Musk, whose previous pay plan was invalidated by a judge. The car maker’s chief has hinted that he…