WILMINGTON, Del. - As Elon Musk is engulfed in his overhaul of Twitter, the entrepreneur is headed to trial to defend his record $56 billion Tesla Inc pay package against claims it unjustly enriches him without requiring his full-time presence at the carmaker.
The trial begins Nov. 14 and will be decided by Kathaleen McCormick on Delaware's Court of Chancery. She oversaw Twitter's lawsuit against Musk that ended last month when he agreed to close his $44-billion deal for Twitter, an acquisition which he financed largely with his Tesla stock. Musk founded and is CEO of SpaceX, one of the world's most valuable private companies, and founded or co-founded Neuralink, which makes brain implants, tunneling venture The Boring Co, and OpenAI, an artificial intelligence research lab. Last week, he appointed himself Twitter CEO.Tornetta's lawyers argue the 2018 package failed its stated purpose of focusing Musk on Tesla.
Musk's vested grants are worth around $50 billion, according to Amit Batish at Equilar, an executive pay research firm. The grants contribute to his $200-billion fortune, the world's largest.
Lmao he has never been fulltime anywhere, it has always been Tesla & SpaceX mostly. This trail is a nothing burger
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Source: Reuters - 🏆 2. / 97 Read more »