Delaware Supreme Court Restores Elon Musk's Controversial 2018 Tesla Pay Package Once Valued at $56 Billion
Summary
The Delaware Supreme Court on Friday reinstated Elon Musk's 2018 compensation package from Tesla, Inc. (TSLA), a deal once valued at $56 billion. This decision overturns a previous ruling by a lower Delaware court that had invalidated the massive pay grant. The successful appeal confirms the controversial pay structure, which had prompted an angry backlash from Musk following its initial rejection, and carries significant implications for corporate governance standards in the state.
The Delaware Supreme Court restored Elon Musk’s $56 billion pay package.
This action overturns a lower court ruling that had previously invalidated the deal.
The reinstatement removes a major corporate governance risk for Tesla (TSLA).
Key Takeaways
- The 2018 Tesla pay package was once valued at $56 billion.
- The Supreme Court decision reverses a two-year-old lower court ruling.
- The reinstatement confirms the validity of the massive stock option grant.
Sentiment: Bullish
The legal victory removes a significant uncertainty surrounding CEO compensation.
Disclaimer: This is an AI-generated summary of a press release . The model used to summarize this release may make mistakes. See the full release here.
