US EditionMusk wins appeal and restores 2018 Tesla pay deal worth $56 billion
The Delaware Supreme Court reversed a 2024 ruling and reinstated Musk’s stock-option pay tied to Tesla’s growth milestones, originally valued around $56 billion.
- On Friday, the Delaware Supreme Court ruled Elon Musk's 2018 CEO pay package, worth $56 billion when vested, must be restored.
- Shareholder Richard J. Tornetta's 2018 suit accused fiduciary breaches, and in January 2024 Chancellor Kathaleen McCormick found Musk `controlled Tesla` and the approval process `deeply flawed`.
- Tesla, Inc. held a second shareholder vote in 2024 to ratify the 2018 plan while a law firm representing Tesla drafted a Delaware corporate-law overhaul earlier this year.
- The decision likely ends the years-long fight over Elon Musk's record-setting compensation, and after the Chancery ruling, Musk moved Tesla's site of incorporation out of Delaware, criticized Chancellor Kathaleen McCormick on X, and urged entrepreneurs to leave the state.
- The outcome highlights broader corporate-governance questions as the $56 billion award at vesting made Elon Musk the wealthiest individual, raising issues involving Delaware corporate law and a law firm that drafted proposed overhaul earlier this year.
235 Articles
235 Articles
The Supreme Court has annulled the decision of the court that had eliminated the compensation of 56 billion granted to the entrepreneur. Now Musk will be able to climb into the capital of the car house without waiting for the bonus of 1000 billion
In December 2024, Delaware’s case was dismissed for the second time and Elon Musk finally appealed to the Supreme Court of the State.
Elon Musk won an appeal before the Supreme Court of Delaware, who decided to restore his 2018 salary package from Tesla, previously cancelled by a lower court. The compensation agreement, considered the greatest in corporate history...
Elon Musk's salary package for 2018 from Tesla, which was worth 56 billion dollars at the time, was restored on Friday of the Supreme Court of Delaware, almost two years after...
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