Delaware Supreme Court Reinstates Musk's $56B Pay

The Delaware Supreme Court has reversed a lower courts decision, reinstateing Elon Musks record-breaking 2018 pay package from Tesla, valued at $56 billion. The original compensation plan, involving twelve milestone-based stock tranches, was considered unprecedented and played a significant role in making Musk one of the wealthiest individuals. The legal challenge began in 2018 when a shareholder accused Musk and the Tesla board of breaching their fiduciary duties. The Supreme Court found that the lower court did not allow Tesla to present its case for a fair compensation amount, effectively reversing the previous judgment.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.