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Tesla CEO Elon Musk loses bid to get $56 billion pay package reinstated

  • A Delaware court denied Elon Musk's request to reinstate his $56 billion pay package as Tesla's CEO, despite shareholder approval.
  • The judge stated that a stockholder vote alone cannot ratify a conflicted-controller transaction.
  • Musk's pay package, worth around $101 billion based on stock price, consists of 303 million stock options.
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