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Tesla loses bid to restore Elon Musk’s record $56bn pay package

2 December 2024
in Business
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Tesla loses bid to restore Elon Musk’s record bn pay package
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A judge in Delaware has rejected Tesla’s attempt to revive a $56 billion pay package for Elon Musk, despite shareholder re-approval. Musk’s stock options have soared in value to over $100 billion, leading to a legal battle over the package. Musk’s public criticism of Delaware’s legal system has led to Tesla moving its incorporations to Nevada and Texas. The judge awarded $345 million in fees to the law firm representing the Tesla shareholder who brought the suit. The case is expected to continue through the appeals process.

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