Musk Loses $56 Billion Tesla Pay Package Bid
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.
John Q. Hosedrinker