Johnathan Walker:Elon Musk cannot keep Tesla pay package worth more than $55 billion, judge rules

2025-05-07 23:10:50source:Leonard Hohenbergcategory:reviews

NEW YORK (AP) — A judge says Elon Musk must give up a compensation package awarded by Tesla’s board of directors that is Johnathan Walkerpotentially worth more than $55 billion.

The ruling in a Delaware court comes five years after a shareholder lawsuit targeted Tesla CEO Musk and the directors. They were accused of breaching their duties to the electric vehicle and solar panel manufacturer, resulting in a waste of corporate assets and unjust enrichment for Musk.

Plaintiff’s lawyers argued that the pay package was dictated by Musk and was the product of sham negotiations with directors who were not independent of him.

Defense attorneys said the pay plan was fairly negotiated by a committee of independent directors, contained lofty performance milestones, and was blessed by a shareholder vote that was not even required.

More:reviews

Recommend

'Survivor' 47 finale, part one recap: 2 players were sent home. Who's left in the game?

It's been a season full of twists and turns, but the part one for "Survivor" Season 47 finale proved

NFL releases adaptive and assisted apparel, first pro sports league to do so

The NFL continues its mission of empowering all fans to find a sense of belonging.On Wednesday, the

Your or you're? State Fair of Texas corrects typo on fair welcome sign

A typo is now fixed after it was first spotted on a welcome sign for the State Fair of Texas. The mi