Elon Musk’s $56bn Tesla pay package rejected again by US judge
Elon Musk’s $56bn Tesla pay package rejected again by US judge
Kathaleen McCormick in Delaware rules Musk not entitled to vast sum despite Tesla shareholders voting to reinstate it
A Delaware judge ruled on Monday that the Tesla chief, Elon Musk, still is not entitled to receive a $56bn 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Kathaleen McCormick of the court of chancery, follows her January decision that called the pay package excessive and rescinded it, surprising investors, and cast uncertainty over Musk’s future at the world’s most valuable carmaker.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. Tesla and its shareholders argued that Musk had reached the milestones originally stipulated when the pay package was drawn up.
McCormick also ordered Tesla to pay the attorneys who brought the case $345m, well short of the billions they initially requested.
Good. Fuck him.
37Everyone boycott that man and make him go away. Go in your router, URL block X and add any site that dares crosspost directly. Impose sanctions
16We're not going to consumer choice our way out of oligarchy
7I intentionally don’t block crossposting sites. It means that when someone cross posts, I get the opportunity to be “that guy” and mention that I can’t see what they’re referring to and would they please reference something publicly accessible?
6Plenty of X posts and links here on Lemmy. You blocking it?
-1Not the individual no, but X and Reddit itself is blocked, alongside a couple dozen outlets that decide to make entire articles over a single X or Reddit post. Those 'lazy journalism' sites don't deserve to exist either, but can't really fault any individual for not wanting to go the extra mile and host an image (although I really wish they would)
5
He'll be fine come January.
13...but but... his carefully appointed friends and family board members voted against company interests to get him that money...
7Musk, the company’s driving force who is responsible for many of its advances
They just stick this in there uncritically
3Oh no! Anyways,how was everyone's thanksgiving?
2