Judge rules Musk must give up Tesla compensation worth billions ...Middle East

The Hill - Technology

A Delaware judge ruled Tuesday that Tesla CEO Elon Musk must give up a 2018 bonus agreement that could be worth up to $55.8 billion, determining that it was not negotiated fairly. A group of Tesla shareholders sued Musk and the company after the company announced the bonus package, which grants Musk a 1 percent stake in the company for each of 12 stock price and revenue milestones laid out in the agreement. The bonuses could see his control over the company rise from 21 percent to 28 percent, if all the milestones were met, which they eventually were. The shareholders claimed that the bonus’s massive size was because Musk effectively controlled the board, which granted it to him

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Last updated : 31 January 2024 clock 02:21 AM

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Judge rules Musk must give up Tesla compensation worth billions ...Middle East

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