Elon Musk won $56 billion payday because of vote, Tesla argues in court


FILE PHOTO: Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of X looks on during the Milken Conference 2024 Global Conference Sessions at The Beverly Hilton in Beverly Hills, California, U.S., May 6, 2024. REUTERS/David Swanson/File Photo

WILMINGTON, Delaware (Reuters) - Tesla is claiming Elon Musk won his legal battle over his $56 billion pay package because shareholders voted for the compensation, despite a judge rescinding it earlier this year, according to a court filing made public on Thursday.

The company's filing comes two weeks after Tesla shareholders voted to ratify the 2018 package of stock options. Tesla held the vote following a January ruling by a Delaware judge to void the compensation because Musk improperly controlled the negotiation process and the company misled shareholders about key details.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Tech News

Apple, Google and others tell some foreign employees to avoid traveling out of the country
Opinion: Apple’s leadership exodus isn’t a crisis. It’s just smart transition planning
Opinion: AI is getting dangerously good at political persuasion
Cybersecurity experts warn that this browser extension is selling your chats with ChatGPT
New York to require social media platforms to display mental health warnings
Atos to sell Latin American businesses to Brazil's Semantix
Toys are talking back thanks to AI, but are they safe around kids?
Tesla faces NHTSA probe over Model 3 emergency door handles
Ghana arrests dozens of Nigerians over online fraud ring
German politician urges more face-to-face interaction in digital age

Others Also Read