A judge has rejected Elon Musk’s $56 billion compensation package for the second time, despite Tesla shareholders voting to reinstate it in June. Judge Kathleen McCormick blocked the plan, saying Tesla’s board was forced to accept the huge payout because of Musk’s influence.

The package is now worth $101 billion, based on Tesla’s closing stock price on Monday. It’s a record pay package for Musk as Tesla’s CEO. Musk is also a known supporter of Dogecoin (DOGE).

In a Dec. 3 post by X (formerly Twitter), Tesla said the court went against what the majority of shareholders wanted. Shareholders voted twice to pay Musk compensation. Tesla said the court’s decision was wrong and it plans to appeal. Tesla argues that if the ruling is not reversed, it will show that judges and lawyers have all the power over Delaware-based companies, taking away power from the real owners of the companies.$XRP $DOGE $SSV #2024withBinance