Delaware Judge Denies Musk's $56 Billion Tesla Pay Reinstatement
A Delaware judge has ruled against reinstating Tesla CEO Elon Musk's $56 billion pay package, despite shareholders voting in favor of its restoration. The decision comes amidst concerns raised by shareholders that rejecting the pay package could lead to Musk stepping away from his leadership role at Tesla.
Musk publicly criticized the judge's decision and suggested that companies might consider reincorporating in Texas to avoid similar legal challenges. In addition, Tesla has been ordered to pay $345 million in attorney fees related to the case.
This ruling underscores ongoing legal scrutiny over executive compensation and governance at Tesla, as well as the broader implications for shareholder influence and corporate leadership stability.