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Elon Musk's record $56bn pay deal rejected for second time _ BBC News

2024-12-04 2 Dailymotion

Tesla chief executive Elon Musk's record-breaking $56bn (£47bn) pay award will not be reinstated, a judge in Delaware has ruled, despite it being approved by shareholders and directors in the summer.<br /> <br />Judge Kathaleen McCormick upheld her previous decision from January, in which she argued that board members were too heavily influenced by Musk.<br /> <br />The pay package would have been the largest ever for the boss of a listed company, said Judge McCormick.<br /> <br />Responding to the ruling, Musk posted on X: "Shareholders should control company votes, not judges."<br /> <br />Tesla has vowed to appeal against the ruling, saying the decision was "wrong".<br />

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