Cardano's Charles Hoskinson sharply criticizes Delaware judge's previous ruling
Tesla shareholders have voted overwhelmingly to approve a $56 billion pay package for CEO Elon Musk and to move the electric vehicle maker's legal home to Texas. Musk In his post on X , Elon Musk expressed his gratitude for the support. The substantial shareholder endorsement of Musk’s pay package, the largest remuneration terms in U.S. corporate history, is poised to alleviate investor concerns about Musk's future with the company.
Despite this significant vote, Musk is still faced with a protracted legal struggle. A Delaware judge previously asserted that the Tesla board was"beholden" to Musk, a claim that the company must counter. Furthermore, the approval could potentially trigger new lawsuits related to the vote. The final results of the shareholder meeting will be announced at Tesla's headquarters in Texas at 4:30 p.m. on Thursday.on Musk’s tweet, criticizing the Delaware judge's previous decision.
So again, a supermajority of the owners approved the pay package taken away by a corrupt judge in Delaware who wants to hand 5 billion dollars of shareholder money to lawyers representing a person with 9 shares of tesla stock.Hoskinson's comment highlights the controversy surrounding the court's ruling and the broader implications for corporate governance and incorporation.
This episode adds another layer to the ongoing saga of Elon Musk’s leadership at Tesla, marked by his ambitious pay package and the strategic shift of Tesla’s legal domicile. As the company navigates these legal challenges, the outcome of the shareholder vote signals robust support for Musk's vision and strategy for Tesla’s future.
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