Economy

Judge halts Elon Musk’s record $55.8B compensation package

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Judge halts Elon Musk’s record-breaking $55.8 billion compensation package

A Tesla pay package for Elon Musk worth $55.8 billion, originally set by Musk and with a cooperative board, has been deemed excessive by a Delaware judge. A judge in Delaware declared the plan set up by Tesla for Musk in 2018 to be invalid, stating that the procedure was flawed and the price unfair. Chancellor Kathleen St. Jude McCormick stated that the package was “The largest potential compensation opportunity ever observed in public markets by multiple orders of magnitude.” In comparison to other CEOs, who usually receive a salary that is approximately 200 times higher than their average employees, Elon Musk’s compensation was quite astonishing. In the intricate realm of executive compensation, determining the actual worth of Musk is a challenging task without a clear solution. This is especially true when considering the maximum value of his package, which is estimated at $55.8 billion.