NewsEnglish • 2 days ago

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

cross-posted to:
economy

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

NewsEnglish • 2 days ago

cross-posted to:
economy

Elon Musk's pay package granted in 2018 was the largest compensation plan in U.S. history for a public company executive.

Summary

A Delaware judge upheld her earlier decision to void Elon Musk’s $56 billion Tesla CEO pay package, ruling it was improperly granted due to Musk’s control over Tesla and flawed board negotiations.

Tesla’s attempt to overturn the ruling through a shareholder vote was rejected, with the judge warning against revising judgments with new facts post-trial.

Musk called the ruling “absolute corruption” and plans to appeal.

Meanwhile, Musk’s net worth has surged, driven by Tesla’s stock jump following optimism about his alignment with Trump’s policies.

Chat

FuglyDuck
link
English
4•1 day ago
maybe you have a point. But can I loot all his money first and make him watch as i donate it to trans rights, maybe also some no-kill shelters. you know puppies and kittens. also, maybe end homelessness and take a bite out of world hunger?

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