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Delaware judge rejects Musk's $56 billion
Tesla pay - again

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Posted By: sunset, 12/3/2024 4:52:26 AM

A Delaware judge ruled on Monday that Tesla (TSLA.O), opens new tab CEO Elon Musk still is not entitled to receive a $56 billion compensation package despite shareholders of the electric vehicle company voting in June to reinstate it. The ruling by the judge, Chancellor Kathaleen McCormick of the Court of Chancery, follows her January decision that called the pay package excessive and rescinded it, surprising investors, and cast uncertainty over Musk's future at the world's most valuable carmaker. In a post on X after the decision, Musk said that "shareholders should control company votes, not judges."

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Reply 1 - Posted by: 5 handicap 12/3/2024 6:09:55 AM (No. 1847225)
I assume this Hack has jurisdiction over Tesla because it is domiciled in Delaware... How long do you suppose it's gonna stay? For 56 Billion, I'm outta there! Since I love retribution, wouldn't it be nice to buy every house in the Judges Neighborhood but hers and turn them into homeless shelters or Just bull-dose half of each of the houses?
26 people like this.

Reply 2 - Posted by: Californian 12/3/2024 6:50:56 AM (No. 1847256)
Although it is excessive that is what his deal is and the shareholders voted on it so uh yeah pay the guy. Yes, I do have some Tesla shares. I'm not losing sleep over him getting paid out.
12 people like this.

Reply 3 - Posted by: Sorosisbehindit 12/3/2024 7:10:37 AM (No. 1847264)
I predict Elon will pick up stakes and move out of Biden's state, and into Texas or Florida.
18 people like this.

Reply 4 - Posted by: Birddog 12/3/2024 7:19:58 AM (No. 1847272)
SLAP suit...brought by a figurehead "Shareholder" with only a couple of shares bought for this purpose. The real function was to get the LAWYERS a massive payday. Imagine any Judge making a similar ruling that Taylor Swift,or any Artist, who founded, funded, invented, HER "Company" was over paid. This coming right after Biden announces he is GIVING $60 BILLION to an already failing E-Car company, from Taxpayer funds, after banks and shareholders...wouldn't. It's interesting that even in the "positive" news coverage of Biden's Rivian bailout, mention is made that the "Loan" of $60Billion is to finish a "$50Billion Plant"
21 people like this.

Reply 5 - Posted by: jasonB 12/3/2024 7:34:20 AM (No. 1847285)
I submit that this "Judge" (political activist) provides so little to society, she should forfeit her pay and actually owes this country millions of dollars.
10 people like this.

Reply 6 - Posted by: msjena 12/3/2024 7:50:39 AM (No. 1847290)
Time to re-domicile somewhere else. Delaware will lose a lot of business (their main source of revenue, most likely) if they start putting restrictions on corporations.
8 people like this.

Reply 7 - Posted by: downnout 12/3/2024 7:57:41 AM (No. 1847295)
Envy is an ugly emotion, Judge.
9 people like this.

Reply 8 - Posted by: skacmar 12/3/2024 8:11:20 AM (No. 1847299)
Why does Tesla have to pay $345 million to the attorneys who filed the lawsuit over Musk's potential compensation? They filed the lawsuit. They were not damaged or injured by Musk's compensation package. As noted in the article, much of the package was stock options which could have been worth zero!
11 people like this.

Reply 9 - Posted by: mifla 12/3/2024 8:34:29 AM (No. 1847306)
Political hack. The type of judge liberals shop around for when they can't get what they want from the politicians.
9 people like this.

Reply 10 - Posted by: Venturer 12/3/2024 9:14:42 AM (No. 1847341)
Chancellor Kathaleen McCormick of the Court of Chancery, Is that some sort of American court? Sounds awful European.
8 people like this.

Reply 11 - Posted by: TexasHillCountry 12/3/2024 9:35:38 AM (No. 1847351)
Sounds to me like a judge conspiring against the civil rights of a US citizen.
10 people like this.

Reply 12 - Posted by: learner 12/3/2024 10:00:32 AM (No. 1847369)
Delaware: Home of vindictive, petty politicians and judges who eschew the law and let their feelz dominate.
9 people like this.

Reply 13 - Posted by: DVC 12/3/2024 11:01:23 AM (No. 1847415)
How is it that a judge has ANY SAY whatsoever on this issue? The shareholders own the company and they set the pay level, why in hell does the judge have any connection to this private business matter? The judge needs to get a higher court to shut her stupid butt up.
12 people like this.

Reply 14 - Posted by: bamboozle 12/3/2024 12:54:22 PM (No. 1847475)
Not unlike the NY judge (?) who determined what Mr Trump's NYC properties were worth without even allowing testimony or evidence.
2 people like this.

Reply 15 - Posted by: paral04 12/3/2024 1:56:07 PM (No. 1847512)
Where does the judge get the authority to rule on corporations that have decide what compensation a shareholder should get?
1 person likes this.

Reply 16 - Posted by: MickTurn 12/3/2024 2:14:27 PM (No. 1847532)
The Judge has NO Authority to do this. PERIOD!
1 person likes this.

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