Tesla CEO Elon Musk loses bid to get $56 billion pay package reinstated

Elon Musk lost his attempt to reinstate his 2018 CEO pay package, valued at $56 billion, when a Delaware judge upheld her previous ruling that the compensation plan was improperly granted.

Tesla plans to appeal, and Musk called the ruling “absolute corruption.”

The judge had ruled in January that Musk controlled Tesla and influenced the approval process, calling it “deeply flawed.”

Despite the legal setback, Musk’s net worth has surged, with his Tesla stock worth nearly $150 billion, CNBC has reported.

read more: https://www.cnbc.com/2024/12/02/tesla-ceo-elon-musk-loses-bid-to-get-56-billion-pay-package-reinstated.html

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