Musk’s huge Tesla payday is blocked again, but at least he’s got Trump
A judge in Delaware on Monday once again blocked a massive, multibillion dollar pay package for Tesla CEO Elon Musk, siding with the plaintiffs who argued that Musk’s salary was not in company shareholders' best interest.
Delaware Chancery Court Chancellor Kathaleen McCormick ruled that Musk's pay package—which is based on the company's stock price and is currently valued at around $101 billion—was negotiated by a board that was too close to Musk.
“There were undoubtedly a range of healthy amounts that the Board could have decided to pay Musk,” McCormick wrote in her opinion, according to CNN. “Instead, the Board capitulated to Musk’s terms and then failed to prove that those terms were entirely fair.”
The news comes as Musk has been trying to be Donald Trump’s best buddy, even abandoning his 12 children from three different women to spend Thanksgiving with Trump at the garish Mar-a-Lago club in Palm Beach, Florida.