SpaceX files to relocate to Texas after Delaware judge voids Elon Musk’s $56B pay
Elon Musk has filed to move his space exploration company SpaceX to Texas, doubling down on his pledge to move many of his businesses out of Delaware after a huge payment to Tesla fell through. Mr. Musk announced filing In an X post Wednesday, the Texas Secretary of State’s Office proposed incorporating SpaceX in Texas, […]
Elon Musk in talks with Tesla shareholder before appeal of nixed $56B pay package
Elon Musk and Tesla shareholders, who last month secured a verdict voiding the CEO’s $56 billion compensation, will put the judgment on hold until the appeal is resolved, according to a Tuesday letter from the shareholders’ lawyers to the court. He plans to ask the judge to do so. Greg Ballaro, a lawyer for the […]
The drummer who threw Elon Musk’s Tesla $56B pay into limbo
The lawsuit that stripped Elon Musk of Tesla’s record-breaking $56 billion in compensation was led by a shareholder who played drums in a heavy metal band. Five years after Tesla shareholder Richard Tornetta filed suit against Musk on behalf of Tesla as part of a shareholder derivative suit, Kathleen McCormick of the Delaware Court of […]
Judge voids Elon Musk’s $56B Tesla pay package: ‘An unfathomable sum’
A Delaware judge on Tuesday ruled that billionaire Elon Musk’s $56 billion payout to Tesla may be voided, adding that the payout was “not calculated.” He said the amount was “an unknown amount” and was unfair to shareholders. “The plaintiff has the right to request an annulment,” the judge said in his ruling. The court’s […]