Tesla has expressed its intention to challenge a Delaware judge’s decision to void CEO Elon Musk’s $56 billion compensation package despite the pay plan being approved by shareholders twice. In a statement on X, Tesla described the court’s ruling as “wrong,” asserting that it would appeal the decision.
“A Delaware judge just overruled a supermajority of shareholders who own Tesla and who voted twice to pay Elon Musk what he’s worth. The court’s decision is wrong, and we’re going to appeal. This ruling, if not overturned, means that judges and plaintiffs’ lawyers run Delaware companies rather than their rightful owners – the shareholders,” Tesla wrote in a post on X.
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