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Elon Musk’s $56bn Tesla pay package voided by Delaware judge
Delaware judge rejects Elon Musk's $56 billion Tesla pay deal, cites conflict of interest and flawed approval process.
In her ruling, she wrote that Musk “enjoyed thick ties with the directors tasked with negotiating on behalf of Tesla, and dominated the process that led to board approval of his compensation plan,” and deemed that there was a conflict of interest between the parties involved. She also referred to Musk as the “ Superstar CEO,” who owned 21.9% of the company and held influential positions, allowing him to have “thick ties” with the directors who were negotiating the deal, and thus having significant influence over the approval process. Her areas of speciality span a wide range, including technology, Diversity, Equity, and Inclusion (DEI), social politics, mental health, and nonfiction books.
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