Elon Musk's $56 billion pay package was blocked by a US court, despite approval from Tesla shareholders. The Delaware judge, Kathaleen McCormick, ruled that Musk controlled the pay negotiations and that Tesla had made misstatements in its documents given to shareholders. The package, which dated back to 2018, would have been the largest ever for a CEO of a listed company. McCormick stated that the shareholder vote could not justify the pay and must meet stricter standards due to Musk's potential conflict of interest. Tesla disagreed with the ruling and plans to appeal, arguing that shareholders, not judges, should have the final say in company votes. The ruling impacted Tesla’s stock price, lowering Musk’s net worth, as a significant portion of his wealth is tied to the company’s shares.#ElonMuskUpdates #ElonMuskEffect #Eloncrypto #Trump2024 #TRUUSDT