Tesla and critics of Elon Musk’s compensation package are in a legal dispute over how to resolve the CEO’s $56 billion pay package. Tesla argues that a shareholder vote in favor of the pay package should reverse a previous ruling that voided the compensation. However, the plaintiff’s legal team argues that the shareholder vote has no legal impact, and the only way for Tesla to challenge the ruling is to appeal to the Delaware Supreme Court. The legal team is seeking at least $1.1 billion in cash as compensation, while Tesla investors have voted in favor of Musk’s pay package, citing the company’s increased value since the agreement was made in 2018. Tesla urges the judge to determine the impact of the shareholder vote, which could reduce the legal fee significantly. Musk has expressed uncertainty about his future at Tesla unless he has a larger stake in the company, while Tesla is facing challenges such as slower sales and increased competition.
Elon Musk’s $56 Billion Pay Dispute: Tesla and Critics Clash Over Resolution
