💨 Abstract

A Delaware appeals court has overturned a previous ruling, allowing Elon Musk to receive a $56 billion Tesla pay package. The Delaware Supreme Court's decision reverses an earlier judgment by Chancellor Kathaleen McCormick, who had invalidated the 2018 package. The court found that Musk had fully performed under the grant, and Tesla shareholders had benefited. The package, though approved by shareholders, faced legal challenges from a shareholder who deemed it excessive.

Courtesy: AFP