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18 days ago

Tesla Board Fails to Justify "Unfathomable" Pay Package for Musk. What Is the Next Step For the EV Titan?

A Delaware judge voided Elon Musk's $55.8 billion Tesla pay package, calling it an "unfathomable sum" unfair to shareholders. The judge said Tesla's board failed to prove the largest compensation plan in history was fair. Musk had close ties to the board and dominated negotiations for the package. Tesla's board now faces deciding on a new package, appealing, or changing the company's incorporation. Elon Musk suggested on social media platform X that Tesla should incorporate in Texas, emphasizing that states like Texas or Nevada are preferable for allowing shareholders to make decisions.
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2 weeks ago