Delaware Supreme Court reinstates Elon Musk’s $55 billion pay package from 2018
AP Photo/Evan Vucci, File
Elon Musk is entitled to his $55.8 billion Tesla pay package from 2018, Delaware’s Supreme Court ruled.
A Delaware Chancery Court judge struck down the compensation package last year after a Tesla shareholder sued over the massive payday, which was tied to a series of growth goalposts for the EV company.
The Delaware Supreme Court’s ruling overturns that decision, saying it was too extreme a remedy.
Tesla shareholders recently approved an even bigger pay package of up to $1 trillion for Musk if Tesla achieves further sales and growth goals.
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Read the original article on Business Insider