US EditionTesla CEO Elon Musk loses bid to get $56 billion pay package reinstated
- A Delaware judge rejected Elon Musk's bid to reinstate a multi-billion dollar pay package, ruling it was improperly granted.
- Chancellor Kathaleen McCormick stated that shareholders had not ratified the payment plan prior to her ruling.
- Musk can still appeal the decision to the Delaware Supreme Court.
471 Articles
471 Articles
Elon Musk’s Tesla pay-package fight is back in the spotlight, but here’s an even bigger issue
With his whopping pay package still tied up in legal limbo, Tesla Chief Executive Elon Musk could begin to push for the controlling stake he once said he wanted in the electric-vehicle maker.
Delaware judge rejects Elon Musk's Tesla pay package for second time
Elon Musk lost in court for the second time over his pay compensation. The Tesla CEO failed to convince a Delaware judge to reverse her earlier ruling, which nullified his $56 billion pay package. “A Delaware judge just overruled a supermajority of shareholders who own Tesla and who voted twice to pay @elonmusk what he’s worth. The court’s decision is wrong, and we’re going to appeal,” Tesla said in a post on X. Tesla's promised appeal will br…
Tesla Stock Tumbles After Court Blocks Elon Musk’s $56 Billion Pay Deal for the Second Time
Tesla’s stock (TSLA) faced a sharp decline on Tuesday afternoon following a significant legal setback for CEO Elon Musk. A Delaware court once again struck down Musk’s controversial $56 billion pay package, rejecting his appeal to revise a previous ruling. The decision marks the second time the Delaware Court of Chancery has ruled against the performance-based pay package, which had been the subject of a lengthy legal battle. In January, the cou…
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