Delaware’s chancery court docket stands between Elon Musk and buyers willingly providing him a fortune. In 2018, when Tesla was price round $50bn, the carmaker’s shareholders authorised a plan to hyperlink Mr Musk’s pay to the worth of the corporate. By January 2024, when the court docket dominated that the pay package deal was unlawful, the carmaker and Mr Musk’s inventory choices had been price greater than $600bn and $50bn respectively. Tesla’s board of administrators had not been clear about how Mr Musk’s pay was set, the choose stated. That summer time Tesla’s shareholders voted to reincorporate the corporate in Texas and reapprove the compensation package deal. The court docket killed it once more in winter.
