Tesla's law firm drafted legislation that could amend Delaware's corporate law, potentially reinstating Elon Musk’s rescinded 2018 CEO pay package. The bill was introduced in the Delaware General Assembly and must pass both chambers before it goes to Governor Matt Meyer for approval. Critics warn the bill weakens shareholder protections. Musk has previously criticized Delaware's judiciary and moved his businesses out of the state.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Tesla's law firm drafted proposed legislation that could amend Delaware's corporate law,
00:06potentially reinstating Elon Musk's rescinded 2018 CEO pay package.
00:10The bill was introduced in the Delaware General Assembly and must pass
00:14both chambers before it goes to Governor Matt Mayer for approval.
00:18Critics warn that the bill weakens shareholder protections.
00:21Musk has previously criticized Delaware's judiciary and moved his businesses out of the state.
00:26For all things money, visit Benzinga.com slash GSTV.