Musk wants Tesla investors to vote on moving corporate registration to Texas ...Middle East

The Hill - Technology

Tesla CEO Elon Musk said Thursday that company shareholders will vote on whether to move its registration to Texas, after a Delaware judge tossed out a multibillion-dollar bonus package for Musk on Tuesday. Delaware Chancery Court Judge Kathaleen McCormick ruled Tuesday that Musk cannot keep a record-breaking compensation agreement worth up to $55.8 billion because it was determined unfairly and Musk controlled the board that authorized the package. A group of shareholders challenged the bonus plan in 2018, just after it was announced. The ruling is a massive financial hit for Musk, with financial analysts projecting that it could strip him of his title of richest man in the world.

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Last updated : 01 February 2024 clock 06:04 PM

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Musk wants Tesla investors to vote on moving corporate registration to Texas ...Middle East

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