It comes after Musk's 2018 pay package, which was worth about $46.8 billion in June, was struck down by a Delaware judge last year.

The Tesla board has reinstated CEO Elon Musk as the highest-paid in history with a staggering new $29 billion pay package. His new deal with the $970 billion electric-vehicle maker comes after a Delaware judge twice rescinded Musk’s previous moonshot megagrant. Musk’s pay has been held up in litigation for the past seven years.