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Elon Musk Rejected $100 Billion Salary

byadmin
December 4, 2024

US judge Kathaleen McCormick reiterated her decision to cancel Tesla CEO Elon Musk’s $100 billion salary package. It was reported that Musk was planning to move his company to Texas following these developments.

Delaware Court Judge Kathaleen McCormick reiterated her decision to cancel Musk’s salary package, despite it being approved in the vote at Tesla’s annual shareholder meeting. McCormick had paved the way for Musk’s approximately $56 billion salary package to be canceled in January, on the grounds that it was an “unimaginable amount” and “determined unfairly by the company’s board of directors.”
Sharing a post on the subject from the X account, Musk said, “Never establish your company in the state of Delaware,” and later announced his plan to move the company to the state of Texas.
In June, Tesla shareholders voted in favor of Musk’s multibillion-dollar pay package and proposals to move the company to Texas.
While the votes in support of the pay package do not overturn the court decision, they do give Musk an advantage in reconsidering the decision. was stated.
The value of the payment package, which was approximately $56 billion earlier this year, exceeded $100 billion with the rapid rise in Tesla’s shares following the presidential elections in the US.
byadmin
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