Judge ruled his pay – six times larger than the combined pay of the 200 highest-paid executives in 2021 – was set inappropriately
A Delaware judge on Tuesday ruled in favor of the investors who challenged billionaire Elon Musk’s $56bn Tesla pay package as excessive, a court filing showed. The judge found that Musk’s compensation was inappropriately set by the electric-vehicle maker’s board and struck down the package. If the decision survives any potential appeal, the Tesla board will have to come up with a new compensation package for Musk.
“Never incorporate your company in the state of Delaware,” Musk responded on Twitter/X.
About Author
More Stories
Sing when you’re winning: how karaoke in cars heralds the triumph of Chinese firms
RBA interest rates: Reserve Bank of Australia cuts cash rate to 3.85% amid lowering inflation
M&S expects cyber-attack to last into July and cost £300m in lost profits