Elon Musk's $56B Tesla pay package restored
The Delaware Supreme Court has restored Elon Musk's $56 billion pay package from Tesla, ending a years-long legal battle that led Musk to move Tesla's incorporation from Delaware to Texas.
Why it matters
The resolution of this high-profile legal dispute over Musk's compensation removes a source of tension and uncertainty for Tesla.
Key Points
- 1Delaware Supreme Court restored Elon Musk's $56B Tesla pay package
- 2The decision ends a years-long court battle over the pay package
- 3Musk was so irked by the legal battle that he moved Tesla's incorporation from Delaware to Texas
Details
The Delaware Supreme Court has ruled in favor of Elon Musk, restoring his $56 billion pay package from Tesla. This decision brings to a close a years-long legal battle that had been a source of frustration for Musk, leading him to move Tesla's corporate headquarters and incorporation from Delaware to Texas. The pay package, approved by Tesla shareholders in 2018, was the largest corporate pay deal ever struck at the time.
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