Posted on 12/19/2025 1:59:57 PM PST by CFW
Elon Musk’s 2018 CEO pay package from Tesla , worth some $56 billion when it vested, must be restored, the Delaware Supreme Court ruled Friday.
“We reverse the Court of Chancery’s rescission remedy and award $1 in nominal damages,” the judges wrote in their opinion.
In the decision out Friday, the Delaware Supreme Court judges said a lower court’s decision to rescind Musk’s 2018 pay plan was too extreme a remedy, and the lower court did not give Tesla a chance to say what a fair compensation ought to be.
The decision on the appeal in this case, known as Tornetta v. Musk, likely ends the years-long fight over Musk’s record-setting compensation.
(Excerpt) Read more at cnbc.com ...
Well, it is his company, after all.
The DE Supreme Court won’t save Delaware from the continued loss of premier corporate HQs. The dim bulb judgette who ruled (politically) against Musk told ALL remaining companies that impartial treatment in Delaware Chancery Court is finished.
It’s a rather mute decision. He moved the incorporation of the company to Texas and there his board did approve a new compensation package.
Delaware has milked the corporate domicile cow for decades, maybe it will finally have gone dry.
The DE Supreme Court won’t save Delaware from the continued loss of premier corporate HQs. The dim bulb judgette who ruled (politically) against Musk told ALL remaining companies that impartial treatment in Delaware Chancery Court is finished.
Which is why more and more companies are moving their corporate registration out of Delaware and into Texas or other business friendly states.
Conservatives build....leftists destroy.
Elon now a Trillionare?
Was it one judge that did all this damage?
She single handedly destroyed Delaware’s only industry left after the Biden grift machine has been closed. These pissant judges have way too much power. This time it blew up in their faces at least.
Can I have the interest on $50B over 7 years) ?
Finally, some commonsense from Delaware.
Sanity from a higher court.
Good. The way it should be.
Elon now a Trillionare?
After the Space X IPO he will be about 600 Billion richer. That’s got to get him close.
Forbed has Elon’s net worth at $679.3B, and Bloomberg has it as $642B.
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