Tesla CEO Elon Musk's bid to reinstate his $56 billion 2018 pay package was rejected Monday as a Delaware judge upheld her prior ruling that the compensation plan was improperly granted. The judge found Musk exercised undue influence over Tesla's board to approve the package, deeming the process deeply flawed. Tesla plans to appeal, and Musk labeled the decision absolute corruption. Tesla stated on X that it plans to appeal the ruling.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Tesla CEO Elon Musk bid to reinstate his $56 billion 2018 pay package was rejected Monday
00:08as a Delaware judge upheld her prior ruling that the compensation plan was improperly granted.
00:14The judge found Musk's exercise undue influence over Tesla's board to approve the package,
00:19deeming the process deeply flawed. Tesla plans to appeal, and Musk labeled the decision
00:24absolute corruption. Tesla stated on X that it plans to appeal the ruling.
00:28For all things money, visit Benzinga.com slash GSTV.