A US judge has rejected Tesla's second attempt to approve a record $56 billion pay package for Elon Musk, a significant setback for the company and its CEO. The ruling, made on Monday, highlights the conflict between board decisions and judicial oversight.
A US judge has denied Tesla 's second attempt to approve a record $56 billion pay package for Elon Musk . The decision, made on Monday, is a significant setback for the world's most valuable carmaker and its CEO, who has seen his fortunes rise since Trump's re-election. The judge, Kathaleen McCormick, described Tesla 's efforts to reapprove the 2018 package as 'creative' but invalid due to lack of procedural ground. Tesla plans to appeal the ruling, arguing that it undermines shareholder rights.
Musk, who has gained political influence following substantial financial contributions to Trump's campaign, responded with criticism
Tesla Elon Musk Pay Package US Judge Kathaleen Mccormick Shareholders Business
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