Elon Musk’s $56 Billion Pay Package Rejected Again by Court
A Delaware judge has upheld the rejection of Elon Musk’s record-breaking $56 billion pay deal for Tesla’s CEO. Judge Kathaleen McCormick ruled that the company’s board was too influenced by Musk, despite shareholder approval of the package in a vote. The judge criticized Tesla’s arguments as ‘creative’ and stated that the pay was not justified. A shareholder who contested the deal will receive $345 million in fees, but not the $5.6 billion in stock they requested. Tesla plans to appeal the decision.