A Delaware state court judge has struck down Elon Musk’s $55 billion Tesla CEO pay package from 2018 that cemented his place as the world’s richest person.
In a ruling filed Tuesday in Delaware Chancery Court, Judge Judge Kathaleen McCormick found that defendants in a lawsuit, which include Musk Tesla’s board, failed to meet the burden in proving that“the compensation plan was fair.”
This is a developing story and will be updated.