Podcasts · Patrick Boyle On Finance
Elon Musk Pay Deal Voided - Should Tesla Reincorporate in Texas?
· 34 min
Episode Elon Musk Pay Deal Voided - Should Tesla Reincorporate in Texas?
Send us a textA Delaware court this week voided Elon Musk’s $55.8 billion dollar pay deal with Tesla. The voiding of these stock options erases about a quarter of Musk’s current wealth.The judgement came in response to a shareholder lawsuit launched by Richard Tornetta who owned nine shares in the company. Judge Kathaleen McCormick found Tesla directors, who negotiated the pay package, were "perhaps starry eyed" due to Musk's "superstar appeal" and did not adequately inform shareholders...
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