Tesla urges Delaware Supreme Court to restore Musk's $56 billion payday [View all]
Source: Reuters
Elon Musk’s $56 billion pay package from Tesla should have been restored by a vote of the company’s shareholders last year, a Tesla attorney argued to the Delaware Supreme Court on Wednesday.
One of the biggest corporate legal battles entered its final stage after a lower court judge rescinded the Tesla CEO's record compensation in January 2024. The company is also appealing a ruling by the lower court that rejected as legally invalid a vote by shareholders to restore the pay package.
“This was the most informed stockholder vote in Delaware history,” Jeffrey Wall, an attorney for Tesla, told the justices. “Reaffirming that would resolve this case.”
The case's outcome could have substantial consequences for the state of Delaware, its widely used corporate law, and its Court of Chancery, a once-favored venue for business disputes that has recently been accused of hostility towards powerful entrepreneurs.
Read more: https://www.reuters.com/sustainability/boards-policy-regulation/musks-legal-fight-over-56-billion-payday-tesla-enters-final-stage-2025-10-15/
Pure unadulterated GREED. How damned much money does one person need? It makes me sick to think of how much good $56 BILLION could do for people who are less fortunate than Elmo.
= new reply since forum marked as read