A Delaware appeals court cleared the way Friday, December 19, for tech CEO Elon Musk to receive a long-contested $56 billion Tesla pay package, reversing an earlier judgment in the long-running case.
The decision by the Delaware Supreme Court rejects a pair of judgments by Chancellor Kathaleen McCormick of Delaware’s Court of Chancery and sets the stage for another windfall for the world’s richest person.
In a pair of 2024 rulings, McCormick invalidated the 2018 package, which once loomed as historically large but has since been eclipsed by the billionaire’s most recent Tesla package.
Rich against rich? What am I missing?
Tesla approved this compensation package for him and now he is getting what they approved long ago.
What rich people are fighting here?
This is very bad news. He’s just getting more and more rich and not even courts can stop him.
Courts could stop him, they just don’t want to.