A Delaware judge has tossed out Elon Musk’s record-breaking $56 billion Tesla pay package, calling the compensation granted by the EV maker’s board “an unfathomable sum” that was unfair to shareholders.
Musk’s 2018 compensation package created 12 tranches of options – each equivalent at the time to 1% of Tesla’s outstanding shares – potentially giving him a 12% stake in the automaker. Musk would receive no salary.
