Connect with us

Hi, what are you looking for?

Smart Income LibrarySmart Income Library

Tech News

Elon Musk’s $56 billion pay package gets rejected — again

Photo illustration of Elon Musk surrounded by raining dollar bills.
Image: Cath Virginia / The Verge, Getty Images

Tesla CEO Elon Musk’s $56 billion pay package was struck down once again. In a ruling on Monday, Delaware Chancery Court Judge Kathaleen St. J. McCormick upheld her decision to block the compensation plan over concerns about conflicts of interest following its approval in 2018.

After warning shareholders in June that Musk could leave the company if his pay package isn’t approved, Tesla held a vote in hopes of reversing the judge’s decision. Shareholders voted to approve the hefty compensation, but this still wasn’t enough to convince the judge to reinstate it.

The decision states that Musk has “no procedural ground for flipping the outcome of an adverse posttrial decision based on evidence they created after trial.” It also calls claims…

Continue reading…

You May Also Like

Politics

Sister Stephanie Schmidt had a hunch about what her fellow nuns would discuss over dinner at their Erie, Pennsylvania, monastery on Wednesday night. The...

Politics

In the final three weeks of the presidential race, former president Donald Trump and his advisers have attacked one particular foe more than three...

Politics

MADISON, Wis. — Early voting kicked off in this battleground state this week with computer delays and long lines. Voters waited as long as...

Politics

“And there’s very few states that benefit like you do from fracking. I mean, you have 500,000 jobs.” — Former president Donald Trump, remarks...