Judge Overrules Elon Musk's $55 Billion Tesla Compensation Package

A Delaware judge ruled that Elon Musk is not entitled to a compensation package potentially worth over $55 billion, awarded by Tesla's board of directors, following a shareholder lawsuit alleging breach of duties and unjust enrichment. The judge found the pay plan to be deeply flawed due to Musk's controlling shareholder status and extensive ties with the negotiating parties, leading to a more rigorous standard for approval. As a result, the judge ordered Musk's compensation package to be rescinded, a decision hailed as unprecedented and significant in the legal realm.