Joe.My.God. LGBT News
Bloomberg News reports:
Elon Musk’s $55 billion pay package at Tesla Inc. was struck down by a Delaware judge after a shareholder challenged it as excessive, a ruling that would take a giant bite out of Musk’s wealth if it survives a likely appeal.
The decision Tuesday means that more than five years after the electric car maker’s co-founder was granted the largest executive compensation plan in history, Tesla’s board will have to start over and come up with a new proposal.
The ruling leaves the future of Musk’s fortune in limbo. Worth some $51.1 billion, the options were one of his most valuable assets. Without them his net worth would drop to $154.3 billion, making him the third-richest person in the world.
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Elon Musk’s $55 billion pay package at Tesla was struck down by a Delaware judge after a shareholder challenged it as excessive https://t.co/dh907B1UOe
— Bloomberg (@business) January 30, 2024