{"id":132919,"date":"2024-12-03T18:25:50","date_gmt":"2024-12-03T11:25:50","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=132919"},"modified":"2024-12-03T18:25:50","modified_gmt":"2024-12-03T11:25:50","slug":"tesla-ceo-elon-musk-denied-56bn-pay-package-once-again-by-delaware-judge","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=132919","title":{"rendered":"Tesla CEO Elon Musk denied $56bn pay package once again by Delaware judge"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"content-main\">\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t<!--post-header--><\/p>\n<p>Tesla CEO Elon Musk was once again denied the $56 billion pay package by Delaware Chancellor Kathaleen McCormick, who previously ruled the sum should not be paid to Musk.<\/p>\n<p>Tesla shareholders <a href=\"https:\/\/www.teslarati.com\/tesla-elon-musk-pay-package-56-billion\/\">voted after the initial rejection of the massive pay package<\/a> that was awarded to Musk for achieving several tranches related to company growth to award the CEO with the money.<\/p>\n<p>McCormick once again denied the pay package. This comes 11 months after the first rejection, which occurred in January.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"eJbKkat42N\">\n<p><a href=\"https:\/\/www.teslarati.com\/tesla-ceo-elon-musk-56-billion-pay-package-decision-before-end-of-year\/\">Tesla CEO Elon Musk\u2019s $56bn pay package decision to come before end of year<\/a><\/p>\n<\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"\u201cTesla CEO Elon Musk\u2019s $56bn pay package decision to come before end of year\u201d \u2014 TESLARATI\" src=\"https:\/\/www.teslarati.com\/tesla-ceo-elon-musk-56-billion-pay-package-decision-before-end-of-year\/embed\/#?secret=MIILuyiSCb#?secret=eJbKkat42N\" data-secret=\"eJbKkat42N\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>The pay package was challenged by shareholder Richard J. Tornetta, who owned only a handful of Tesla shares. McCormick ruled in January that Musk\u2019s \u201cunfathomable sum\u201d was unfair to shareholders.<\/p>\n<p>However, it appears the weight of one shareholder and one chancellor outweighs that of a majority of Tesla shareholders who voted overwhelmingly this past Summer <a href=\"https:\/\/www.teslarati.com\/elon-musk-tesla-pay-package-attorney-s-plead-judge-vacate-decision\/\">to award Musk the money once again<\/a>.<\/p>\n<p>However, on Monday, Chancellor McCormick once again said Musk should not be awarded the sum.<\/p>\n<p>Tesla responded:<\/p>\n<p style=\"padding-left: 40px;\"><em>\u201cA Delaware judge just overruled a supermajority of shareholders who own Tesla and who voted twice to pay @elonmusk what he\u2019s worth. This ruling, if not overturned, means that judges and plaintiffs\u2019 lawyers run Delaware.\u201d<\/em><\/p>\n<p>Perhaps what is most baffling about the ruling by McCormick is the fact that Tesla will be forced to pay $345 million in fees to lawyers who represented Tornetta and other shareholders. The lawyers, at one time, <a href=\"https:\/\/www.teslarati.com\/elon-musk-pay-package-judge-legal-fee-windfall-warning\/\">requested more than $5.5 billion from the case<\/a>, and they wanted it in the form of Tesla stock.<\/p>\n<p>Those lawyers said in a statement (via\u00a0<em>The New York Times<\/em>):<\/p>\n<p style=\"padding-left: 40px;\"><em>\u201cWe hope that the chancellor\u2019s well-reasoned decision will end this matter for the shareholders of Tesla.\u201d<\/em><\/p>\n<p>They also said that they are looking forward to defending the judgment if Tesla decides to appeal. The company said it will be appealing McCormick\u2019s decision.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"lFvnHro2Om\">\n<p><a href=\"https:\/\/www.teslarati.com\/vivek-ramaswamy-elon-musk-pay-package-response\/\">Vivek Ramaswamy calls Elon Musk\u2019s Tesla pay package situation \u2018a threat to capitalism\u2019<\/a><\/p>\n<\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"\u201cVivek Ramaswamy calls Elon Musk\u2019s Tesla pay package situation \u2018a threat to capitalism\u2019\u201d \u2014 TESLARATI\" src=\"https:\/\/www.teslarati.com\/vivek-ramaswamy-elon-musk-pay-package-response\/embed\/#?secret=jHxZ5xE7Kz#?secret=lFvnHro2Om\" data-secret=\"lFvnHro2Om\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>It also seems Chancellor McCormick did not believe the shareholder vote and subsequent board vote were not a reasonable way to <a href=\"https:\/\/www.teslarati.com\/tesla-elon-musk-appeal-58-billion-pay-package-decision\/\">reinstate the pay package<\/a>.<\/p>\n<p>She said:<\/p>\n<p style=\"padding-left: 40px;\"><em>\u201cWere the court to condone the practice of allowing defeated parties to create new facts for the purpose of revising judgments, lawsuits would become interminable.\u201d<\/em><\/p>\n<p><strong>Need accessories for your Tesla? Check out the Teslarati Marketplace:<\/strong><\/p>\n<p><em>Please email me with questions and comments at\u00a0<a href=\"https:\/\/www.teslarati.com\/tesla-ceo-elon-musk-denied-56bn-pay-package-once-again-by-delaware-judge\/mailto:joey@teslarati.com\">joey@teslarati.com<\/a>. I\u2019d love to chat! You can also reach me on Twitter\u00a0<a href=\"http:\/\/twitter.com\/klenderjoey\">@KlenderJoey<\/a>, or if you have news tips, you can email us at\u00a0<a href=\"https:\/\/www.teslarati.com\/tesla-ceo-elon-musk-denied-56bn-pay-package-once-again-by-delaware-judge\/mailto:tips@teslarati.com\">tips@teslarati.com<\/a>.<\/em><\/p>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"mvp-meta-wide-title\" itemprop=\"headline\">Tesla CEO Elon Musk denied $56bn pay package once again by Delaware judge<\/span><\/p>\n<div class=\"mvp-org-wrap\" itemprop=\"publisher\" itemscope=\"\" itemtype=\"https:\/\/schema.org\/Organization\">\n<div class=\"mvp-org-logo\" itemprop=\"logo\" itemscope=\"\" itemtype=\"https:\/\/schema.org\/ImageObject\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/www.teslarati.com\/wp-content\/uploads\/2016\/05\/TeslaratiLogowhite200x110.png\"\/><br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<meta itemprop=\"url\" content=\"\/\/www.teslarati.com\/wp-content\/uploads\/2016\/05\/TeslaratiLogowhite200x110.png\"\/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n<p><!--mvp-org-logo--><br \/>\n\t\t\t\t\t\t\t\t\t\t\t<meta itemprop=\"name\" content=\"TESLARATI\"\/>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n<p><!--mvp-org-wrap--><br \/>\n\t\t\t\t\t\t\t\t\t\t<!--posts-nav-link--><br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<!--post-tags--><br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<!--article-ad--><br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<!-- \t\t\t\t\t\t\t\t\t\t\t\n\n<div id=\"comments-button\" class=\"left relative comment-click-279115 com-but-279115\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"comment-but-text\">View Comments<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n --><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.teslarati.com\/tesla-ceo-elon-musk-denied-56bn-pay-package-once-again-by-delaware-judge\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tesla CEO Elon Musk was once again denied the $56 billion pay package by Delaware Chancellor Kathaleen McCormick, who previously ruled the sum should not be paid to Musk. 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