US court restores Musk’s 2018 Tesla pay package boosting his control stake
NEW DELHI: The Delaware Supreme Court in the US has restored Elon Musk’s 2018 pay package from Tesla, overturning a lower‑court decision that had struck it down as “unfathomable”.
The ruling reverses a 2024 decision that rescinded the package and found that total rescission “leaves Musk uncompensated for his time and efforts over a period of six years,” the 49‑page ruling said, according to multiple media reports.
The erstwhile ruling had reportedly damaged Delaware's business-friendly reputation, and the new ruling assured Musk greater control over the company, alleviating his main concern, even after shareholders recently approved a new pay package that could be worth $878 billion if Tesla meets certain targets.
What's Your Reaction?
Like
0
Dislike
0
Love
0
Funny
0
Angry
0
Sad
0
Wow
0
PNE
Punjab News Express is dedicated to bringing reliable and engaging news to readers. He focuses on covering trending stories, regional updates, and important social issues while presenting information in a simple and clear way for the Punjabi audience.
