Elon Musk gets a big shock, money received from Tesla will be canceled on court order
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New Delhi : The world’s billionaire industrialist and Tesla owner Elon Musk has suffered a major legal setback. An American court has declared the salary package given by Tesla to be very high. Along with this, the court has also ordered to cancel the salary package received from Tesla. It is also being told that this case of Elon Musk can also reach the Supreme Court of America.
Elon Musk’s salary package may be canceled
According to media reports, a judge in Delaware, America, on Tuesday ruled to cancel the salary package of about $56 billion received from Elon Musk’s Tesla, terming it too high. It is also being told that this decision of the Delaware court can also be appealed in the Supreme Court. With this decision, the largest salary package of corporate America may be canceled.
biggest salary package
It has been reported in the report that the salary package received by Elon Musk from Tesla is the highest in America. In her decision, Kathleen McCormick of the Court of Chancellor of Delaware wrote that ‘all upside’. Impressed by this superstar appeal of Elon Musk, the board never raised questions on the $55.8 billion. Was the plan necessary for Tesla to retain Elon Musk and achieve its goals?
Challenger will work with Tesla’s legal team
Kathleen McCormick has instructed Tesla shareholders who challenged Elon Musk’s salary plan to work with Elon Musk’s legal team on an order implementing the decision. The decision can be appealed once the parties agree on a final order and shareholders’ attorneys’ fees, which will be paid by Tesla. After this decision, Elon Musk said in a post on Twitter (X) that never open your company in the state of Delaware. “Good day for good guys,” said an email from Greg Varallo, an attorney for Tesla shareholder Richard Tornetta, who filed the lawsuit in 2018.
Immense amount of money as salary package?
Judge McCormick of the Delaware court wrote in his 201-page decision that the incredible amount of compensation plan, the largest ever, is precisely calibrated to help Elon Musk achieve what he believes is necessary. There will be ‘a better future for humanity’. In November 2022, Musk testified during a compensation trial that the money would be used to finance interplanetary travel. He said that this is a way to take humanity to Mars. So Tesla can potentially help achieve this.
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