As Elon Musk is engulfed in his overhaul of Twitter, the entrepreneur is headed to trial to defend his record $56 billion Tesla Inc pay package against claims it unjustly enriches him without requiring his full-time presence at the carmaker.
A Tesla shareholder is seeking to rescind Musk's 2018 pay deal, claiming the board set easy performance targets and that Musk created the package to fund his dream of colonizing Mars.
Tesla has countered that the package delivered an extraordinary 10-fold increase in value to shareholders. The trial begins Nov. 14 and will be decided by Kathaleen McCormick on Delaware's Court of Chancery. She oversaw Twitter's lawsuit against Musk that ended last month when he agreed to close his $44-billion deal for Twitter, an acquisition which he financed largely with his Tesla stock.
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