A Delaware court rejected Elon Musk’s $101 billion Tesla compensation package, despite shareholder approval. Judge Kathaleen McCormick ruled the package, consisting of stock options, was not in shareholders’ best interests, citing the board’s failure to demonstrate fairness and its close ties to Musk. The judge’s decision stands even after a shareholder vote re-approved the package, emphasizing that ratification doesn’t automatically equate to fairness. Musk, who receives no salary or bonus, argued his compensation was self-negotiated, highlighting the conflict of interest.
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A Delaware judge upheld her previous ruling invalidating Elon Musk’s $56 billion Tesla compensation package, the largest in US history for a public company executive. The judge rejected Tesla’s argument that a subsequent shareholder vote ratified the plan, citing the potential for endless litigation if such actions were allowed. A $345 million attorney fee award was approved for the plaintiffs’ lawyers. Musk may appeal, but despite this setback, his net worth has recently increased significantly due to a surge in Tesla’s stock price following Donald Trump’s election.
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In response to Elon Musk’s transformation of X into a platform for disinformation and propaganda, the European Federation of Journalists (EFJ), representing over 295,000 journalists, will cease publishing content on the platform starting January 20, 2025. This decision, mirroring actions by other European news outlets, cites concerns about Musk’s collaboration with Donald Trump and the platform’s promotion of harmful content. The EFJ emphasizes its commitment to press freedom and ethical journalism in making this choice. This action reflects the growing concerns about the erosion of public trust in social media platforms and the threat to democratic discourse.
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Despite their differing political views, Senator Bernie Sanders and Elon Musk surprisingly find common ground on Pentagon spending and prescription drug prices. Both have criticized the Pentagon’s repeated audit failures and billions in unaccounted spending, advocating for greater fiscal responsibility. Furthermore, they share a commitment to lowering the exorbitant costs of medications like Ozempic and Wegovy, citing the ethical implications of price gouging. This unexpected alignment highlights a potential area for bipartisan cooperation, though their broader political differences remain.
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Garry Kasparov warns that Elon Musk’s potential role in the Trump administration could establish him as America’s first oligarch, blurring the lines between business and government. This concern stems from Musk’s position as a major government contractor potentially overseeing substantial portions of the federal budget. Kasparov emphasizes that oligarchy isn’t solely defined by wealth but by the erosion of ethical boundaries between the private and public sectors. The situation’s resolution hinges on whether Musk’s endeavors operate within existing governmental ethical safeguards and whether conflicts of interest will be appropriately addressed.
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Democratic strategist Chai Komanduri claims Elon Musk’s influence has effectively overtaken the Republican Party and the MAGA movement, mirroring Trump’s previous consolidation of power within the party. Komanduri describes this as a strategic investment opportunity, highlighting Trump’s declining influence and the absence of a clear MAGA successor. Musk’s recent alignment with the Republican party, following a shift from his past Democratic affiliations, is coupled with his appointment to lead the new Department of Government Efficiency under the Trump administration. This appointment, alongside substantial financial contributions to pro-Trump groups, underscores Musk’s growing political power.
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Elon Musk’s involvement in a commission to reduce federal spending creates a significant conflict of interest, as it could lead to cuts in rural broadband funding that would benefit his satellite internet company, Starlink. Starlink has been largely excluded from existing broadband funding due to its slower speeds, but Musk’s influence with the incoming Trump administration could lead to a redirection of funds towards satellite internet. This potential reallocation of funds would violate existing laws and likely trigger legal challenges, yet delays caused by such litigation could significantly benefit Starlink’s market share. Ultimately, this scenario presents a direct conflict between public broadband infrastructure and the financial interests of a private company.
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Elon Musk and Vivek Ramaswamy’s proposed Department of Government Efficiency (DOGE) aims to drastically reduce the federal government, aligning with the incoming Trump administration’s broader goals. This plan involves eliminating “thousands” of regulations and minimizing government employees, potentially serving as a vehicle for a Musk-led shadow presidency or a method to placate him. The proposal leverages the recent *Loper Bright* Supreme Court decision, weakening the power of federal agencies, and echoes earlier right-wing efforts to dismantle the civil service. Ultimately, DOGE’s goals resemble the more radical “Retire All Government Employees” plan, advocating for deregulation and concentrating power within a select group.
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X, owned by Elon Musk, is unprecedentedly intervening in the bankruptcy sale of Alex Jones’ Infowars, contesting the transfer of Jones’s X accounts. This action directly contradicts X’s terms of service prohibiting account sales and marks a departure from typical social media company practices. Legal experts note this is the first instance of a platform publicly challenging account ownership transfer in court, raising concerns about the platform’s future as a marketplace of ideas. The intervention, praised by Jones, may reflect Musk’s personal views and a strategic move to set a legal precedent.
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Elon Musk joined President-elect Trump, Melania, and Barron Trump for Thanksgiving dinner at Mar-a-Lago, further solidifying their close relationship. Video footage shows the two men enjoying themselves, with Musk even participating in a playful moment with Trump. Musk’s involvement in the incoming administration, notably his appointment to head the newly created “Department of Government Efficiency,” has sparked concerns regarding potential conflicts of interest. This close association extends beyond Thanksgiving, with Musk frequently present at Mar-a-Lago during the presidential transition, even participating in calls with world leaders.
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John Q. Hosedrinker