The world’s richest man had a bad day in court this week. A judge in Delaware ruled that Elon Musk is ineligible to receive a compensation package from Tesla worth an estimated $55 billion. This is a case that has dragged out for five years and the merits of the arguments coming from both sides seem rather vague. The suit was originally brought by a group of shareholders who claim that Musk unfairly crafted his own compensation package resulting in “unjust enrichment” for the billionaire at the expense of the other shareholders. The judge apparently agreed, but Musk’s attorneys argue that the package was a fair one and they have all the receipts to prove it. (Associated Press)
A judge says Elon Musk must give up a compensation package awarded by Tesla’s board of directors that is potentially worth more than $55 billion.
The ruling in a Delaware court comes five years…
