Tesla has withdrawn a $29 billion interim compensation package for CEO Elon Musk after a Delaware court restored his original $56 billion pay package from 2018. The company had previously stated it would not allow Musk to "double dip" if he successfully appealed the court's initial rejection of his larger compensation plan.

The development follows a complex legal battle over Musk's executive compensation. Delaware courts had initially struck down the $56 billion package, leading Tesla to propose the smaller interim award. However, the recent court decision reversed that ruling, restoring the original 2018 compensation agreement.

The $56 billion package, when approved in 2018, was structured around Tesla's performance milestones and stock price targets. The compensation plan has been one of the largest executive pay packages in corporate history, drawing scrutiny from shareholders and corporate governance experts.

Tesla's decision to withdraw the interim package demonstrates the company's commitment to its earlier promise regarding overlapping compensation. The move resolves potential concerns about excessive executive pay that could have arisen from Musk receiving both awards simultaneously.

The resolution of Musk's compensation dispute comes as Tesla continues its global expansion efforts, including plans to create additional jobs in international markets to meet growing demand for its electric vehicles.