Musk's $56B Payday Goes Poof: Judge Slaps Down Tesla CEO While Lawyers Get $345M Consolation Prize

Musk's $56B Payday Goes Poof: Judge Slaps Down Tesla CEO While Lawyers Get $345M Consolation Prize

The Tesla compensation case reached a decisive moment as Judge Kathaleen McCormick rejected Elon Musk's $56 billion package for the second time while awarding the victorious attorneys $345 million in fees. The case, originating from Richard Tornetta's 2018 lawsuit, challenged the compensation structure's approval process and board independence, culminating in a ruling that found fundamental flaws in Tesla's governance procedures. Key developments include the failed June 2024 shareholder revote, attorney work spanning 19,499.95 hours, and Tesla's planned Supreme Court appeal.

The ruling's impact extends beyond Tesla, establishing precedents for executive compensation and corporate governance. Judge McCormick's decision addresses both the compensation structure and attorney fees, with the legal team receiving a 25.3x multiplier on their hours despite requesting $5.6 billion. Musk responded through X, stating "shareholders should control company votes, not judges," while Tesla plans to challenge the ruling's implications for Delaware corporate law. The case highlights ongoing tensions between executive incentives, board independence, and shareholder interests, setting new standards for corporate governance and legal compensation in high-stakes litigation.

Avsnitt(1090)

Elon Musk Talks about aliens, SpaceX and more - Classic Episode

Elon Musk Talks about aliens, SpaceX and more - Classic Episode

Elon Musk Talks about aliens, SpaceX and moreOriginally published - Published: August 17, 2024 at 4:18 AM

20 Sep 32min

Las Megas | Tesla Megablock Event

Las Megas | Tesla Megablock Event

Las Megas | Tesla Megablock Event

18 Sep 21min

MUST LISTEN NOW: Hell Breaks Loose As Patel & Swalwell Fight Over Trump-Epstein Questions

MUST LISTEN NOW: Hell Breaks Loose As Patel & Swalwell Fight Over Trump-Epstein Questions

MUST LISTEN NOW: Hell Breaks Loose As Patel & Swalwell Fight Over Trump-Epstein Questions

17 Sep 7min

Marjorie Taylor Greene DOGE Hearing: 'Playing God With The Weather'

Marjorie Taylor Greene DOGE Hearing: 'Playing God With The Weather'

Marjorie Taylor Greene DOGE Hearing: 'Playing God With The Weather'

17 Sep 1h 51min

xAI Cuts 500 Grok Trainers as Musk Bets on Automation

xAI Cuts 500 Grok Trainers as Musk Bets on Automation

Elon Musk’s xAI has abruptly laid off around 500 data annotators responsible for training its chatbot, Grok. These workers were central to shaping the model’s tone, accuracy, and behavior. Their sudden removal signals a major shift toward automation and synthetic data, raising questions about Grok’s future quality and alignment. In this episode, we break down what the layoffs reveal about xAI’s strategy, how they impact Grok’s development, and why removing human feedback now could come at a cost.

16 Sep 10min

Elon Musk poised to reclaim title of world’s richest person + SpaceX MASSIVE Test - February 11, 2023

Elon Musk poised to reclaim title of world’s richest person + SpaceX MASSIVE Test - February 11, 2023

Originally aired : February 11, 2023Elon Musk is on the cusp of reclaiming his position as the world’s richest person after a surge in Tesla’s share price.The static fire test took place on Thursday, February 9, with the Booster 7 prototype standing tall on the launch mount at SpaceX’s Starbase facility in Boca Chica, Texas. As hoped, there were plenty of jaw-dropping visuals to go around and plenty to think about as SpaceX pushes forward with its ambitious Starship program.https://patreon.com/stagezero

15 Sep 16min

How much does Elon Musk's security cost?

How much does Elon Musk's security cost?

How much does Elon Musk's security cost?

15 Sep 5min

Elon Musk Talks at Tommy Robinson's 'Unite the Kingdom' rally

Elon Musk Talks at Tommy Robinson's 'Unite the Kingdom' rally

Elon Musk Talks at Tommy Robinson's 'Unite the Kingdom' rally

14 Sep 18min

Populärt inom Teknik

uppgang-och-fall
elbilsveckan
rss-racevecka
market-makers
bilar-med-sladd
rss-elektrikerpodden
rss-veckans-ai
rss-laddstationen-med-elbilen-i-sverige
bli-saker-podden
garagehang
skogsforum-podcast
rss-technokratin
developers-mer-an-bara-kod
rss-uppgang-och-fall
teknikveckan
har-vi-akt-till-mars-an
natets-morka-sida
mediepodden
bosse-bildoktorn-och-hasse-p
hej-bruksbil