Published: Jan 31, 2024, 05:50 IST | Updated: Jan 31, 2024, 05:50 IST
Gravitas Jan 31, 2024, 05:50 IST
Gravitas | Elon Musk's massive $56 Billion Tesla pay package voided | judges say, 'It's too much'
Tesla CEO Elon Musk has suffered a setback after a court in U.S. struck down his record-breaking $56 billion pay package on Tuesday. The judges called his compensation plan "an unfathomable sum" that was unfair to the shareholders. The ruling came five years after lawsuit was filed criticizing the board for wasting corporate assets that they say led to Musk's unjust enrichment.