NEW DELHI: The Delaware Supreme Court in the US has restored Elon Musk’s 2018 pay package from Tesla, overturning a lower‑court decision that had struck it down as “unfathomable”.
The ruling reverses a 2024 decision that rescinded the package and found that total rescission “leaves Musk uncompensated for his time and efforts over a period of six years, ” the 49‑page ruling said, according to multiple media reports.
The erstwhile ruling had reportedly damaged Delaware’s business-friendly reputation, and the new ruling assured Musk greater control over the company, alleviating his main concern, even after shareholders recently approved a new pay package that could be worth $878 billion if Tesla meets certain targets.
Comments are closed.