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Delaware judge rejects request to restore Musk's $56 billion Tesla pay
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Delaware judge rejects request to restore Musk's $56 billion Tesla pay
Dec 2, 2024 2:26 PM

WILMINGTON, Delaware, Dec 2 (Reuters) - A Delaware judge

ruled on Monday that Tesla CEO Elon Musk still is not

entitled to receive a $56 billion compensation package despite

shareholders of the electric vehicle company voting to reinstate

it.

The ruling by the judge, Chancellor Kathaleen McCormick of

the Court of Chancery, follows her January decision that called

the pay package excessive and rescinded it, surprising

investors, and cast uncertainty over Musk's future at the

world's most valuable carmaker.

Tesla has said in court filings that the judge should

recognize a subsequent June vote by its shareholders in favor of

the pay package for Musk, the company's driving force who is

responsible for many of its advances, and reinstate his

compensation.

McCormick also ordered Tesla to pay the attorneys who

brought the case $345 million, well short of the billions they

initially requested.

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