Elon Musk Lost His Tesla Pay Fight. Here's What He Can Do Next.

aaltchek@insider.com (Ana Altchek), Business Insider
Tue, 12/03/2024 - 3:09pm

Elon Musk's pay package was struck down for the second time on Monday.Joe Raedle/Getty ImagesA Delaware judge again struck down Elon Musk's $55 billion pay package.Legal experts walked BI through what the appeal process could look like for Tesla.Tesla may also reintroduce the package in Texas, a strategy that could end up costing shareholders more.Elon Musk's battle over his Tesla pay is entering a new phase.A Delaware judge ruled on Monday that Tesla's shareholder vote wasn't enough to pass Elon Musk's $55 billion compensation package.Tesla called the decision "wrong" and said it would appeal."This ruling, if not overturned, means that judges and plaintiffs' lawyers run Delaware companies rather than their rightful owners — the shareholders," Tesla wrote in a post on X.So what happens next?If Tesla files an appeal, Delaware's Supreme Court will review the decision of Delaware Chancery Court Judge Kathaleen St.

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BING NEWS:
  • Elon Musk's more than $50 billion pay deal at Tesla was rejected again. Here is why
    A judge in Delaware has for the second time struck down a compensation package for Elon Musk after a Tesla shareholder filed suit.
    12/3/2024 - 12:20 pm | View Link
  • Elon Musk lost his Tesla pay fight. Here's what he can do next.
    Appeals are often a long shot, and Elon Musk's battle over his Tesla compensation presents a novel case with unpredictable elements.
    12/3/2024 - 9:09 am | View Link
  • A judge has once again rejected Musk’s multi-billion-dollar Tesla pay package. Now what?
    For a second time, a Delaware judge has nullified a pay package that Tesla had awarded its CEO, Elon Musk, that once was valued at $56 billion.
    12/3/2024 - 8:27 am | View Link
  • Tesla bet on shareholder ‘ratification’ to save Musk’s pay package. It lost the bet.
    After a Delaware judge last January struck down CEO Elon Musk’s $56 billion pay package, Tesla’s board of directors faced a choice.
    12/3/2024 - 7:46 am | View Link
  • Elon Musk loses bid to get his $56 billion pay package reinstated
    Tesla CEO Elon Musk has lost his bid to get his 2018 pay package reinstated after a judge upheld her ruling that the compensation plan was improperly granted. The package valued at $56 billion was the ...
    12/3/2024 - 3:39 am | View Link
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