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Judge voids Elon Musk’s ‘unfathomable’ $56 billion Tesla pay package

Judge voids Elon Musk’s ‘unfathomable’ $56 billion Tesla pay package

A Delaware judge tossed out Elon Musk's record-breaking $56 billion Tesla pay package, calling the compensation granted by the EV maker's board "an unfathomable sum" that was unfair to shareholders. Shares of Tesla dropped about 2% in premarket trade, and some investors seized on the ruling in hopes it might prompt Tesla to overhaul its governance. The Tesla board has been criticized as failing to provide oversight of its combative, headline-making CEO, who has fought regulators and led several other companies at the same time. The ruling, which can be appealed, nullifies the largest pay package in corporate America. The judge found the…
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