Delaware court in nullified compensation deal based on carmaker’s market value in January, calling it ‘unfathomable sum’
Tesla on Wednesday asked its shareholders to once again approve CEO Elon Musk‘s record-breaking $56bn pay that was set in 2018, but was rejected by a Delaware judge in January.
The compensation includes no salary or cash bonus, but sets rewards based on Tesla’s market value rising to as much as $650bn over the next 10 years. Tesla is now valued at over $500bn, according to LSEG data.
