Elon Musk’s $56B Payday? Judge Says, ‘Nice Try, Elon’
Q: What happened to Elon Musk’s $56 billion Tesla compensation package?
A: A Delaware judge rejected it again, proving even billionaires can’t win every argument.
Q: Why was the pay package denied?
A: The judge found “extensive ties” between Musk and those negotiating the deal. Translation: he stacked the deck.
Q: Didn’t Tesla shareholders vote to approve the pay deal?
A: Twice, actually. Musk even said, “Hot damn, I love you guys,” but apparently, the judge didn’t share the enthusiasm.
Q: What’s the judge’s issue with the shareholder votes?
A: She called the second vote invalid due to "creative but fatally flawed" arguments and misleading statements.
Q: What were those misleading statements?
A: Tesla told shareholders the second vote would "fix" the judge’s first ruling. Spoiler: it didn’t.
Q: How did the judge summarize her stance?
A: “[A] stockholder vote alone cannot ratify a conflicted-controller transaction.” In other words, nice try.
Q: What does this mean for Musk’s future paycheck?
A: He’ll have to keep fighting in court. Delaware’s Supreme Court might be the next stop on this legal rollercoaster.
Q: What other projects is Musk juggling?
A: SpaceX, X.com (formerly Twitter), The Boring Company, and now a central role in Trump’s "Department of Government Efficiency" (DOGE - yes, really).
Q: How much did the attorneys suing Musk want in fees?
A: Over $5 billion, but the judge said, “Let’s dial it back” and awarded $345 million instead.
Q: What’s the big takeaway from this case?
A: Even when you’re a billionaire with rockets and robots, you can’t always bend corporate law to your will.
Q: Final thoughts?
A: Elon Musk might want to add “master negotiator” to his next to-do list - after all, third time’s the charm, right?