The Delaware Supreme Court overturned a lower court ruling that had blocked the compensation, clearing the way for Elon Musk to receive the performance-based stock award|Daniel Oberhaus|CC BY 2.0
Tesla prevailed in its fight over Chief Executive Elon Musk’s record-breaking pay package, approved by shareholders in 2018.
The Delaware Supreme Court overturned a lower court ruling that had blocked the compensation, clearing the way for Musk to receive the performance-based stock award—now valued at $139 billion—originally approved by Tesla shareholders seven years ago.
The Delaware Chancery Court had earlier sided with a minority shareholder who argued that Tesla’s board was improperly influenced by Musk when granting the package and that it was unfair to investors. In reversing that decision, the state’s high court said denying the award left Musk “uncompensated” for his time as CEO.