Delaware court in nullified compensation deal based on carmaker’s market value in January, calling it ‘unfathomable sum’
Tesla on Wednesday asked its shareholders to once again approve CEO Elon Musk‘s record-breaking $56bn pay that was set in 2018. A Delaware judge rejected the pay package in January, calling it excessive and saying the company’s board failed to justify it.
The compensation includes no salary or cash bonus, but sets rewards based on Tesla’s market value rising to as much as $650bn over the next 10 years. Tesla is now valued at over $500bn, according to LSEG data.
About Author
More Stories
How could Trump’s second term affect DEI initiatives in the US?
Americans stocking up on foreign goods before Trump tariffs: ‘a sense of urgency’
Ex-McKinsey partner pleads guilty to destroying records on opioids