Tesla and Opponents Clash over Elon Musk's Pay Package as the Legal Battle Continues from number 48 nascar car Watch Video
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⏲ Duration: 0:46 👁 View: 670K times ✓ Published: 25-Jun-2024
Description: Tesla and opponents of CEO Elon Musk's $56 billion pay package are clashing over how to resolve the legal dispute regarding the compensation package. In January, a Delaware judge voided Musk's compensation plan but shareholders recently voted to reinstate it. However, the plan remains on hold pending the lawsuit's resolution. Tesla argues that the shareholder vote means the judge should reverse her prior ruling and void the pay package. Opponents argue the vote has no legal effect. Musk's pay package is based on performance targets related to Tesla's market cap and was valued at around $56 billion initially but is now worth around $48 billion based on Tesla's stock price.