Wednesday, 04 December 2024

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Musk's record $56bn pay deal rejected for second time

 Published: 11:13, 3 December 2024

Musk's record $56bn pay deal rejected for second time

Tesla CEO Elon Musk's record-breaking $56bn (£47bn) pay award will not be reinstated, a judge has ruled.

The decision in the Delaware court comes after months of legal wrangling and despite it being approved by shareholders and directors in the summer.

Judge Kathaleen McCormick upheld her previous decision from January, in which she argued that board members were too heavily influenced by Mr Musk.

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