Elon Musk's $56 Billion Tesla Pay Package Blocked Again Amid Legal Battles
TL;DR Summary
A Delaware court judge denied Elon Musk's attempt to reinstate his $100 billion pay package and also reduced the legal fees requested by the lawyers who challenged it. The lawyers initially sought $5.6 billion but were awarded $345 million in cash or Tesla shares. The judge acknowledged the substantial work done by the lawyers but deemed the original fee request excessive. The decision may still be appealed to the Delaware Supreme Court.
- The lawyers who took on Tesla and Elon Musk wanted $5.6 billion for winning the case. In a lawsuit about excessive pay, ‘That was a bold ask,’ said the judge. Fortune
- Tesla CEO Elon Musk loses bid to get $56 billion pay package reinstated CNBC
- Tesla stock slides after Elon Musk's multibillion dollar pay package gets blocked Yahoo Finance
- Elon Musk could still pocket tens of billions more dollars. But he might have to wait a bit CNN
- Elon Musk's more than $50 billion pay deal at Tesla was rejected again. Here is why NPR
Reading Insights
Total Reads
0
Unique Readers
1
Time Saved
2 min
vs 3 min read
Condensed
82%
403 → 72 words
Want the full story? Read the original article
Read on Fortune