Elon Musk's record $56bn pay deal rejected for second time | BBC News

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

The pay package would have been the largest ever for the boss of a listed company, said Judge McCormick.

Responding to the ruling, Musk posted on X: "Shareholders should control company votes, not judges."

Tesla has vowed to appeal against the ruling, saying the decision was "wrong".



#ElonMusk #Tesla #BBCNews

[demonovmx]

why did they cut off the lady at 1:47 min?

[VetaLunsford]

Musk's Quarden Token announcement is coming soon. Easyest money if you get in on the ICO

[GabrielaDenney-sz]

Quarden Token will go 100x after launch on Binance

[AlainaRees]

Quarden Token has two of the largest Tesla shareholders already; most likely something is coming

[tamimkhan]

why arent you mentioning that shareholders approved it 2 times and again in this year

[CORNELIUSLloyd-sg]

X and Quarden Token are going to be merged. Easiest money in my life

[au-contraire]

Okay, now I see something more of the bigger picture. First Musk had to fight to be even able to sell his own cars directly to the customers and when he made it and achieved the goals he promised, the shareholders approved his pay package but the court said no... I had my gripes with Musk for going rogue in politics but now I see what has brought him to this point... Two party system with both of the parties being morally compromised is a tragedy.

[liamofyorkshire]

Regardless of what you think of the man or the amount, what is the legal basis for a court being able to block this?

[goodshipkaraboudjan]

The fact Elon is resorting to a bot army says it all.

[TaylorSwifty]

The shareholders agreed to this why is this getting blocked??

[CassandraFisher-xh]

First Elon bought X and now he launched the XAI501X token this year is crazy

[matt]

lol they were "had over" on "how easy it was to" 10x the company's market cap? Do these people listen to themselves?

[kinngrimm]

I don't think anyone should have this kind of money.

[user-usqz]

Totalitarian State of democracy ! The illusion of freedom. And The illusion of choice ! 🤣🤡🤮

[ROBERTNovak-oe]

Quarden Token will make millionaires, after CEX listing it will blow up.

[James_Knott]

I guess he'll have to go to a food bank, to get his groceries! 🙂

[soup-nazi]

No one stops ceo's of banks & airlines that are failing & losing money from getting millions in bonuses when they resign & move on but somehow its a great idea to punish a ceo when he 10x the profit of a company when everyone said it was impossible & laughed at him in the media...Mske it make sense...
🤔

[Da_Juice]

I think he's got enough money as is

[ZoniaElliott]

With Elon and Trump now working with Quarden Token is going to absolutely blow up

[Orlandojusticenomaga]

He is clearly hard up for cash, god how will he put food on the table and keep the lights on. 🤔🤔🤔🤔🤔🤔