A Delaware judge has voided Tesla CEO Elon Musk’s gargantuan $55 billion pay package following a lawsuit by shareholders claiming it was far too much wealth to award a single individual.
In a ruling this week, Delaware judge Kathaleen McCormick called the billionaire’s cushy compensation plan “an unfathomable sum,” arguing it was unfair to shareholders.
Uncontested, the decision could leave a massive gap in the net worth of the once richest man in the world, which could have a ripple effect on his other ventures, including SpaceX and his online echo chamber X-formerly-Twitter.
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