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Tesla CEO Elon Musk loses bid to get $56 billion pay package reinstated

Elon Musk's pay package granted in 2018 was the largest compensation plan in U.S. history for a public company executive.

Elon Musk listens as US President-elect Donald Trump speaks during a House Republicans Conference meeting at the Hyatt Regency on Capitol Hill on November 13, 2024 in Washington, DC. The judge approved a $345 million attorney fee award for the lawyers who successfully sued on behalf of Tesla shareholders in order to void the pay plan. In response to Musk's motion arguing that Tesla's ratification vote for his pay package should lead her to reverse her prior opinion, Judge McCormick wrote, "Were the court to condone the practice of allowing defeated parties to create new facts for the purpose of revising judgments, lawsuits would become interminable."

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