Tesla CEO Elon Musk's Massive Compensation Package Voided by Judge, Who Questioned 'Deeply Flawed' Package and 'Extenstive Ties'
  • 3 months ago
A Delaware judge voided the $56 billion compensation package that Tesla granted CEO Elon Musk in 2018, ruling that the board failed to prove it was fair. The judge said Musk "controlled Tesla" and that the process leading to the board's approval of the pay package was "deeply flawed." The judge determined Musk had "extensive ties" to those negotiating the package on Tesla's behalf, and they did not act in the company's best interests. Musk tweeted that companies should "never incorporate" in Delaware after the ruling, and asked if Tesla should change its state of incorporation to Texas.