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Tesla’s $56 Billion Musk Pay Package Voided: Judge Deems Compensation Unfair

Payam Javan: A Delaware judge has nullified Tesla’s $56 billion pay package granted to Elon Musk in 2018, ruling that the company’s board failed to prove the compensation plan was fair.

The decision came as part of a lawsuit filed by shareholder Richard Tornetta, who argued the pay package was excessively large and the milestones for Musk were expected to be achieved. The judge concurred, stating that Musk controlled Tesla during the approval process.

Tornetta is now directed to collaborate with Musk’s legal team to implement the decision and address remaining issues.

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