Elon Musk denied $85 billion incentive plan by US judge

AutoExec Summary
Elon Musk’s potential US$56 billion ($85 billion) payout from Tesla has been revoked by a Delaware judge due to unfair process and lack of necessity. The compensation deal was approved without full shareholder knowledge and was deemed unnecessary given Musk’s existing shareholding. The judge also highlighted Musk’s effective control of the board and compensation committee. This is not the first case involving Musk that Chancellor McCormick has been involved with. Tesla and Musk have not indicated whether they will appeal this ruling.

Brands mentioned: Tesla, SpaceX, Telstra,