New Telegraph

Judge Blocks Musk’s ‘Unfathomable’ $56BN Tesla Pay

A judge in the US state of Delaware has annulled a $55.8bn (£44bn) pay deal awarded to Elon Musk in 2018 by the electric car company Tesla. The lawsuit was filed by a shareholder who argued that it was an overpayment.

Judge Kathaleen Mccormick ruled that the Tesla board’s approval of the pay package was “deeply flawed.” In a post on X, which is owned by Musk and formerly known as Twitter, he wrote: “Never incorporate your company in the state of Delaware”.

The pay deal was the biggest ever in corporate history, helping to make Musk one the richest people in the world, reports the BBC.

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