Delaware Court
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Delaware supreme court restores Elon Musk's 2018 Tesla pay package
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The Delaware Supreme Court has unanimously ruled to reinstate Elon Musk's 2018 Tesla compensation package, originally valued at $56 billion and now worth around $140 billion. The decision overturns a lower court's 2024 ruling that struck down the deal due to conflicts of interest. Musk, who criticized Delaware's judiciary and relocated Tesla to Texas, hailed the outcome as vindication.
The Delaware Supreme Court cut Tesla's legal obligations in a shareholder lawsuit over director compensation, reducing attorney fees from $176.1 million to $70.9 million after deeming a lower court's settlement valuation excessive. CEO Elon Musk hailed the ruling on X as 'saving the state.'