Shareholders also voted to reinstate a 2018 pay deal, voided by a Delaware judge earlier this year, that would have netted Tesla CEO Elon Musk $56 billion at prior stock prices — purportedly the highest pay package ever awarded an official at a public company. Previous:Are Elon Musk and Tesla leaving Delaware? Previous:'Never incorporate in Delaware,' Musk wrote after Tesla ruling. That said, shareholder votes to reinstate the pay plan or move from Delaware are unlikely to be a slam-dunk legal remedy to Musk's loss in Delaware courts. Before Tesla lost a court case over Musk's compensation package, Tesla was victorious in a previous Chancery case surrounding the purchase of a solar-panel installation company founded by two of his cousins.

Source: Forbes June 13, 2024 21:59 UTC