After a 5-year legal procedure, a court in the State of Delaware annuls the 56 billion compensation plan decided in favor of Elon Musk.
Delaware State Judge Jude McCormick cancels the $56 billion compensation plan that Tesla granted Elon Musk in 2018.
The billionaire reacted on X by advising companies not to set up in the state of Delaware.
The procedure lasted five years and vindicated Richard Tornetta, a Tesla shareholder who accused Elon Musk of having dictated the terms of his remuneration to the company’s directors.
According to the judgment, Elon Musk “had close ties with members of the board of directors” of Tesla and the level of remuneration is “unfair”.