Elon Musk’s $50 billion Tesla pay was struck down. What happens next?

Elon Musk Wants to Reincorporate , Tesla in Texas. On Jan. 31, a Delaware judge ruled that Musk cannot receive a $56 billion pay package that Tesla granted to him in 2018, CNBC reports. . The ruling was largely due to the fact that Musk was in control of the board of directors when he received the package. Musk disagreed with the ruling, taking to X to say, "Never incorporate your company in the state of Delaware.". The Tesla CEO later posed a question to the public, asking if the company should change its state of incorporation. It is not yet known when the shareholder vote will take place. Columbia Law School professor Eric Talley told CNBC that Texas makes sense for Tesla. In addition to its physical headquarters being there, the state is more lenient about paying CEOs large sums of money. If reincorporated in Texas, the board could potentially choose to award Musk a "gratitude" bonus, Talley said. However, the move could be challenged by shareholders who view the change as "a choice made for Musk-selfish reasons," according to Talley

Elon Musk suffered one of the biggest legal losses in US history this week when the Tesla CEO was stripped of his $56 billion pay package in a case brought by an...

Due to a lawsuit led by Richard Tornetta, Elon Musk, the co-founder and CEO of Tesla, isn't going to get that $55 billion pay package, which is approximately Rs...

Jeff Bezos plans to sell up to 50 million shares of Amazon over the next year, taking advantage of the stock surge. Bezos is now $8.1 billion behind Elon Musk,...