Without $55B Tesla Pay Court Ruled ‘Excessive,’ Elon Musk Would Not Be World’s Richest Man ...Middle East

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Without $55B Tesla Pay Court Ruled ‘Excessive,’ Elon Musk Would Not Be World’s Richest Man
source : Time ( Middle East ) () 24
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 and put the fate of his companies in question. [time-brightcove not-tgx=”true”] That is if the ruling survives a likely appeal.  The decision Tuesday, which amounts to his first major loss in court, means that more than five years after the electric carmaker’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. Musk never attempted to exercise his options since they’d been challenged in Delaware

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