Delaware Court Clears Elon Musk Pay

A United States — Delaware appeals court has reversed an earlier judgment, clearing the way for Elon Musk to receive his long-contested $56 billion Tesla, Inc. pay package. The United States — Supreme Court of the United States's decision rejects previous rulings by Chancellor Kathaleen McCormick of the state's Court of Chancery, which had invalidated the 2018 compensation package. The appeals panel determined that Kathaleen McCormick ruled improperly in ordering a rescission, stating that Elon Musk fully performed under the grant and Tesla, Inc. and its stockholders were rewarded for his work. The 2018 package was initially challenged by Tesla, Inc. shareholder List of lawsuits involving Tesla, Inc., who argued it was excessive. Despite the legal battle, Tesla, Inc.'s board has consistently supported Elon Musk, approving an interim compensation award and a new performance-based package worth up to $1 trillion, which shareholders easily approved.