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Tesla awards CEO Musk millions of shares valued at about $49b
Tesla gave Elon Musk a stock grant of US$29 billion (NZ$49.01 billion) Tuesday as a reward for years of "transformative and unprecedented" growth despite a recent foray into right-wing politics that has hurt its sales, profits and its stock price. In giving its billionaire chief executive 96 million in restricted shares, the electric car company noted that Musk hasn't been paid in years because his 2018 compensation package has been rejected by a Delaware court. The award comes eight months after a judge revoked the 2018 pay package a second time. Tesla has appealed the ruling. Tesla on Tuesday called the grant a "first step, good faith" way of retaining Musk and keeping him focused, citing his leadership of SpaceX, xAI and other companies. Musk said recently that he needed more shares and control so he couldn't be ousted by shareholder activists. "Rewarding Elon for what he has done and continues to do for Tesla is the right thing to do,' the company said in a regulatory filing, citing an increase of US$735 billion (NZ$1.242 trillion) in Tesla's value on the stock market since 2018. Tesla shares have plunged 25% this year largely due to blowback over Musk's affiliation with President Donald Trump. But Tesla also faces intensifying competition from both the big Detroit automakers, and from China. ADVERTISEMENT Tesla logo. (Source: Getty) In its most recent quarter, Tesla reported that quarterly profits plunged from US$1.39 billion (NZ$2.35 billion) to US$409 million (NZ$691.21 million). Revenue also fell and the company fell short of even the lowered expectations on Wall Street. Investors have grown increasingly worried about the trajectory of the company after Musk had spent so much time in Washington this year, becoming one of the most prominent officials in the Trump administration in its bid to slash the size of the US government. The electric vehicle maker said in the regulatory filing that Musk must first pay Tesla US$23.34 (NZ$39.45) per share of restricted stock that vests, which is equal to the exercise price per share of the 2018 pay package. In December Delaware Chancellor Kathleen St. Jude McCormick reaffirmed her earlier ruling that Tesla must revoke Musk's multibillion-dollar pay package. She found that Musk engineered the landmark pay package in sham negotiations with directors who were not independent. The rulings came in a lawsuit filed by a Tesla stockholder who challenged Musk's 2018 compensation package. That pay package carried a potential maximum value of about US$56 billion (NZ$94.8 billion) but that sum has fluctuated over the years based on Tesla's stock price. ADVERTISEMENT The morning's headlines in 90 seconds, including the West Auckland builder sentenced over massive meth haul, fire on a commuter train, and how Bluey could teach kids about resilience. (Source: 1News) Musk appealed the order in March. A month later Tesla said in a regulatory filing that it was creating a special committee to look at Musk's compensation as chief executive. Musk has been one of the richest people in the world for several years. Wedbush analyst Dan Ives feels Musk's stock award may alleviate some Tesla shareholder concerns. "We believe this grant will now keep Musk as chief executive of Tesla at least until 2030 and removes an overhang on the stock," Ives wrote in a client note. "Musk remains Tesla's big asset and this comp issue has been a constant concern of shareholders once the Delaware soap opera began." Under pressure from shareholders last month, Tesla scheduled an annual shareholders meeting for November to comply with Texas state law. A group of more than 20 Tesla shareholders, which have watched Tesla shares plummet, said in a letter to the company that it needed to at least provide public notice of the annual meeting. ADVERTISEMENT Tesla's stock rose nearly 2% in midday trading.
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Advancing preemptive security with powerful innovations designed to safeguard users, devices, IoT/OT, cloud workloads and shut down threats before they start Launching new and enhanced Protective DNS capabilities to help organisations predict threats, preempt AI-driven attacks and prevail over modern adversaries Introducing flexible token-based licensing to scale protection efficiently and align pricing with evolving security needs Strengthening leadership in Protective DNS and enabling alignment with forthcoming NIST guidelines to help organisations outpace evolving cyberattacks Powering Google Cloud's DNS Armor, providing native security for cloud workloads, with public preview later this year Infoblox, a leader in cloud networking and security services, today announced major enhancements to its Protective DNS solution, Infoblox Threat Defense™, empowering organisations to stay ahead of sophisticated, AI-driven cyberthreats with preemptive security. As global cybercrime costs surge toward US $23 trillion by 2027,1 traditional 'detect and respond' security tools are struggling to keep up. Modern attackers increasingly deploy AI to create unique, single-use malware and stealthy phishing campaigns that evade traditional defences—making it more likely than ever that any organisation can become 'patient zero.' Infoblox's Protective DNS solution, Infoblox Threat Defense, stops threats before they impact infrastructure by combining predictive threat intelligence with algorithmic and machine learning based detections—blocking high-risk and malicious domains an average of 68 days earlier than traditional tools, with an industry-leading 0.0002 per cent false positive rate. 'The difference between most DNS security tools and our approach is like the difference between law enforcement chasing street-level drug dealers versus taking down the cartel,' said Mukesh Gupta, chief product officer, Infoblox. 'We target the suppliers behind the cyberattackers—the cartel—so threats can be blocked before they ever reach the network. This preemptive strategy helps security teams reduce risk, eliminate noise and stop threats at the DNS layer before they ever reach the network.' To help customers get ahead of the new wave of AI-driven threats, Infoblox is continually delivering groundbreaking threat intelligence—solidifying the role of Threat Defense as a proactive, highspeed threat blocker. From better visibility and actionable insights to flexible licensing and clear metrics on preemptive protection, these new innovations are designed to help security teams close gaps before attackers can exploit them: Protection Before Impact: Provides security leaders with clear, quantifiable metrics on threats neutralised before they can cause damage, streamlining reporting and demonstrating security ROI. Security Workspace: An intuitive, centralised interface that gives security teams deep visibility into their environment with actionable insights to reduce risk and ultimately speed their mean time to respond (MTTR). Detection Mode: Provides organisations visibility into threats they're missing today— without changing existing DNS configuration, minimising operational risk. Asset Data Integration: Delivers deep context into what was protected as part of the preemptive strategy, enabling security teams to do further investigation and analysis. Token-Based Licensing: Flexible, token-based pricing aligned to protected assets simplifies procurement and drives clearer ROI. Powering Google Cloud's DNS Armor: Infoblox's Protective DNS capabilities also power Google Cloud's DNS Armor, providing native security for cloud workloads, with public preview later this year Infoblox Threat Defense gives security teams predictive insights to block attacks as threat actor infrastructure is being created—before malware is even deployed and long before a patient zero is hit. Unlike traditional security tools that must wait for the first victim to detect and respond, Infoblox's approach can preempt the attack entirely. By stopping attacks earlier, Infoblox reduces the load on detect-and-respond tools, such as XDR and SIEM—aligning with Gartner's view that preemptive cybersecurity will replace 40 per cent of traditional solutions by 2028. The latest NIST SP 800-81 guidelines reinforce this shift, noting that DNS can often prevent security incidents earlier than other systems. 'Traditional 'detect and respond' security simply can't keep pace with today's AI-driven attackers and malware. Cybercrime is evolving faster than ever, costing the world trillions and exploiting gaps in legacy defences,' said Scott Harrell, president and CEO, Infoblox. 'The legacy kill chain approach depends on someone else being 'patient zero' so those legacy systems can learn and react—but attackers today customise malware to target individual businesses or industries, rendering legacy, reactive approaches ineffective against modern AI-enabled attackers. When you're patient zero, the only thing being 'killed' is your business. The future of cybersecurity must be preemptive: stop threats before they ever reach your organisation.' 'Across APAC, cyberattacks are growing more aggressive and calculated. From exploiting third-party access points to targeting critical systems—attackers are finding the cracks in our digital foundations and are using AI to strike faster and smarter than ever,' said Paul Wilcox, VP of regional sales, APJ. 'For businesses in Singapore, where digital services are tightly woven into daily life, any downtime or confidentiality breach can be deeply disruptive. That's why organisations here need to invest in earlier threat detection that starts at the DNS layer. Stopping an attack before it begins is far less costly than dealing with the aftermath.' For deeper insights into our latest innovations and why preemptive DNS security matters more than ever, visit ou r Security Momentum launch blog. To see the latest research on evolving threats— including how DNS security blocks 82 percent of attacks before impact—read ou r 2025 DNS Threat Landscape Report. 1. 'Key Cyber Security Statistics for 2025,' SentinelOne, May 15, 2025. About Infoblox Infoblox unites networking, security and cloud to form a platform for operations that's as resilient as it is agile. Trusted by 13,000+ customers, including 92 of the Fortune 100, we seamlessly integrate, secure and automate critical network services so businesses can move fast without compromise. Visi t or follow us on LinkedIn.
