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WILMINGTON - A Delaware judge on Tuesday (Jan 30) ruled that Elon Musk's record-breaking US$56 billion (S$75 billion) Tesla pay package could be tossed, calling the compensation granted by the EV maker's board "an unfathomable sum" that was unfair to shareholders. Shares of Tesla dropped about three per cent in extended trade. The ruling may sweep away the largest pay...
The judge found the salary was negotiated by directors who seemed beholden to their headline-making chief executive.
A judge says Elon Musk must give up a compensation package awarded by Tesla’s board of directors that is potentially worth more than $55 billion
The ruling comes more than five years after a shareholder lawsuit targeted Tesla CEO Musk and directors of the company.
WILMINGTON: A Delaware judge on Tuesday (Jan 30) ruled that Elon Musk's record-breaking US$56 billion Tesla pay package could be tossed, calling the compensation granted by the EV maker's board "an unfathomable sum" that was unfair to shareholders. Shares of