Comment on Elon Musk loses bid to reinstate massive Tesla pay plan, now worth $101B

Elon Musk loses bid to reinstate massive Tesla pay plan, now worth $101B

A Delaware judge today rejected Elon Musk's bid to reinstate a Tesla pay package that was worth over $50 billion at the beginning of 2024 and has now crossed $100 billion based on Tesla's latest share price. The judge also ordered Tesla to pay $345 million in attorneys' fees to the plaintiff's counsel, who had sought $5.6 billion in fees. Delaware Court of Chancery Judge Kathaleen McCormick, who voided the pay plan in January, said today that a June 2024 shareholder vote re-approving the 2018 pay plan is not a compelling reason to reverse the original ruling.

 

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