SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

The Judge Continues to Block Musk's Mega-Payout

A judge in the state of Delaware has once again stopped the giant compensation of 56 billion dollars (equivalent to 615 billion kronor) that Tesla's founder and CEO Elon Musk would receive from the company, reports Bloomberg.

» Published: 02 December 2024

The Judge Continues to Block Musk's Mega-Payout
Photo: Allison Robbert/AP/TT

Already in January, Judge Kathaleen McCormick stopped the compensation, which applies to the year 2018, with the motivation that it was far too high.

This after shareholders sued the company and its board, which had approved Musk's compensation plan – the largest in US history.

But at the meeting in June in Texas, the shareholders approved the payment.

However, the judge continues to press the brakes with the motivation that the compensation was far too much under Musk's influence when the decision was made.

"Even if a shareholder vote could have a ratifying effect, it cannot have it here", she writes in her statement on Monday.

Musk can proceed with the process and appeal McCormick's decision to a higher instance in the state.

Tags
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Investigation expanded against X
1 MIN READ

Investigation expanded against X

USA's Supreme Court hints at Tiktok decision soon
1 MIN READ

USA's Supreme Court hints at Tiktok decision soon

Star Chef Loses Rental Dispute – Forced to Leave
1 MIN READ

Star Chef Loses Rental Dispute – Forced to Leave

Better than expected for Saab
1 MIN READ

Better than expected for Saab

Better than expected for Saab
1 MIN READ

Better than expected for Saab

Norwegian giant fund seeks next CEO
1 MIN READ

Norwegian giant fund seeks next CEO

Inflation rise in eurozone confirmed
1 MIN READ

Inflation rise in eurozone confirmed

Bankers to build European transfer system
1 MIN READ

Bankers to build European transfer system

Lower prices on gasoline and diesel
1 MIN READ

Lower prices on gasoline and diesel

NCC Rebuilds Oceana After the Fire
1 MIN READ

NCC Rebuilds Oceana After the Fire

Unexpected setback for British Christmas trade
1 MIN READ

Unexpected setback for British Christmas trade

The stock market rally gains momentum again – factory shares lead the way
2 MIN READ

The stock market rally gains momentum again – factory shares lead the way

You'll find the cheapest food here
2 MIN READ

You'll find the cheapest food here

China reaches growth target after strong final quarter
2 MIN READ

China reaches growth target after strong final quarter

Down in Japan – up in China
1 MIN READ

Down in Japan – up in China

Upward trend for China's economy
1 MIN READ

Upward trend for China's economy

Down on Wall Street
1 MIN READ

Down on Wall Street

Billion Fines for American Express
1 MIN READ

Billion Fines for American Express

Adviser: Trump wants to save Tiktok
3 MIN READ

Adviser: Trump wants to save Tiktok

Employers want to stop Israel blockade
1 MIN READ

Employers want to stop Israel blockade