New York, December 3, 2024: Elon Musk’s $56 billion compensation package from Tesla has been rejected by a U.S. court once again. The ruling stems from concerns that the pay package, which was tied to specific growth targets, was not properly authorized by Tesla’s board of directors.
The pay package was awarded to Musk based on achieving performance milestones, but shareholders challenged its structure, arguing that it lacked proper oversight and harmed the company’s interests.
This legal setback continues the ongoing scrutiny Musk’s compensation has faced over the years.
Tesla’s board and Musk’s legal team have yet to comment on the ruling, which may lead to further legal actions.
