Tesla shareholders have given Elon Musk a salary of $56 billion. But the American court again considered such compensation excessive and rejected it as unacceptable.
The head of the electric car manufacturer Tesla, Elon Musk, has suffered another legal defeat in a dispute over a compensation package worth $56 billion.
Judge Kathleen McCormick ruled on Monday, December 2, that Musk is not entitled to the money, despite Tesla shareholders voting again in June for the package.
Tesla initially introduced entrepreneurial bonuses for achieving certain goals in 2018. After the announcement of the court decision, Musk wrote in his microblog on platform X that the company's votes should be controlled by shareholders, not judges. Tesla releasedstatementon X, in which she wrote: “The decision is wrong, and we will appeal.”
Judge Kathleen McCormick ruled on Monday, December 2, that Musk is not entitled to the money, despite Tesla shareholders voting again in June for the package.
Tesla initially introduced entrepreneurial bonuses for achieving certain goals in 2018. After the announcement of the court decision, Musk wrote in his microblog on platform X that the company's votes should be controlled by shareholders, not judges. Tesla releasedstatementon X, in which she wrote: “The decision is wrong, and we will appeal.”
