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Elon Musk, CEO of Tesla, faces another legal setback as a Delaware judge upholds a previous ruling denying his $56 billion compensation package. The court’s decision on Monday reaffirms an earlier opinion that rescinded the massive pay deal, despite Tesla’s argument that shareholders had voted again to approve it in June following the initial ruling.
The controversial pay package, awarded in 2018, was tied to Tesla’s performance benchmarks and was hailed at the time as the largest-ever compensation deal for a corporate executive. Musk met the stipulated milestones, including Tesla’s soaring market value and revenue. . .
