Musk lost a battle in Delaware today. The judge did not reverse her earlier ruling that said his 2018 Tesla CEO Pay Plan should be voided. Equilar estimates that at today’s price, that stock based compensation is worth ~$101.4B. More @cnbc www.cnbc.com/2024/12/02/t... www.cnbc.com/2024/12/02/t... - ThreadSky

lorak.bsky.social • 109 days ago

Musk lost a battle in Delaware today. The judge did not reverse her earlier ruling that said his 2018 Tesla CEO Pay Plan should be voided. Equilar estimates that at today’s price, that stock based compensation is worth ~$101.4B. More @cnbc https://www.cnbc.com/2024/12/02/tesla-ceo-elon-musk-loses-bid-to-get-56-billion-pay-package-reinstated.html https://www.cnbc.com/2024/12/02/tesla-ceo-elon-musk-loses-bid-to-get-56-billion-pay-package-reinstated.html

Comments

r1of5.bsky.social•109 days ago

Tesla is/will re-incorporate in Texas so he can start all over again.

lorak.bsky.social•109 days ago

It has reincorporated in the state of Texas. That doesn't change the venue where this trial is proceeding. This will be appealed to the Delaware state supreme court.

r1of5.bsky.social•109 days ago

I meant that Musk would abandon this effort. Have another board meeting in Texas. Get the same offer there and Texas would let it go.

Obviously I'm not a lawyer or rich but it feels like Musk doesn't care about laws or ethics when going after this cash so he'll try everything.

lorak.bsky.social•109 days ago

no tesla & musk plan to appeal in DE

r1of5.bsky.social•109 days ago

These are part of the same group people who when they loose OSHA and NRLB cases have gone to court to have the departments unconstitutional.

You are way more optimistic than me that this well end in what would have thought was a standard legal pattern.

lorak.bsky.social•109 days ago

no i’m not. ha. but they are trying to change the ruling or laws. or at least insult delaware judges & court of chancery. so they will press on in delaware for now.

mestevo.com•109 days ago

Reconstituting the plan and reoffering it today will cost Tesla and Musk billions in taxes (and is inevitable, either for prior but also future compensation). IMO their best move is to settle this and move on.

Even this latest shareholder vote was found to be misleading, lol.

lorak.bsky.social•109 days ago

somebody read the footnotes!

catmama42014.bsky.social•109 days ago

Oh, no, how will he survive? (Massive sarcasm intended) 🙄

wil9876.bsky.social•109 days ago

Does this mean the 330bn he’s worth is really only 230 ?

jasonnlewis.bsky.social•109 days ago

Good. Even if the USA is unreliable politically, this is a legal decision with sanity and it preserves the integrity of corporations.

Which is why it will be overturned some time after mid January.

mtibayan.bsky.social•109 days ago

“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,” Chancellor Kathaleen McCormick wrote in her opinion. 💪🏻

emoltzen.bsky.social•109 days ago

noteom.bsky.social•109 days ago

I thought he somehow evaded that by reincorporating in texas?

but idk I don't follow all his nonsense

lorak.bsky.social•109 days ago

Nope! That was an act of retribution the moment he faced a consequence he did not like. But it did not force a venue change for cases filed already there in DE.

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