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Headline : Musks record $56bn pay deal rejected for second time

Read more from the original article on here at www.bbc.com.





Tags : #musks #record #56bn #pay #deal #rejected #second #time


No. of Paragraph 26

Tesla chief executive Elon Musk's record-breaking $56bn (£47bn) pay award will not be reinstated, a judge has ruled.

The decision in the Delaware court comes after months of legal wrangling and despite it being approved by shareholders and directors in the summer.

Judge Kathaleen McCormick upheld her previous decision from January, in which she argued that board members were too heavily influenced by Mr Musk.

Reacting to the ruling, Mr Musk wrote on X: "Shareholders should control company votes, not judges."

Read more from the original article on here at www.bbc.com.


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