'Musk has also benefited, unlike the rest of us, from billions in taxpayer subsidies.'
A good day's work for a good day's pay. Should this age-old wisdom apply to overpaid CEOs as well as their workers? A Delaware court will soon decide, a turn of events that must have the richest man in the known universe, Elon Musk, feeling more than a little bit uneasy.Delaware's little-known Court of Chancery normally provides business moguls a battleground where they can slug out their big-ticket differences.
Tornetta's challenge has ended up before the Chancery Court's Kathleen McCormick, a judge who's already demonstrated a distinct lack of patience with Muskian antics. Just this past October, McCormick ruled against Musk in another case. She might well again.CNN Business, gives Musk"the largest compensation package for anyone on Earth from a publicly traded company." Under the plan, the higher Tesla's share price goes, the more new Tesla shares Musk gets.
Back in 2018, major shareholder advisory firms recommended that Tesla shareholders reject the pay deal that Tesla's corporate board—a panel that included Musk's brother and assorted close pals—wanted to give Musk., already had plenty of incentive to work hard for Tesla's success. He owned 22 percent of Tesla's shares even before his new CEO pay deal.in mid-November. Judge McCormick's decision in the case will likely come down sometime over the next three months.
Musk turns out to be as flawed as the rest of us. The key difference: Musk has the power and wealth to make others pay for his mistakes.
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