Elon Musk wants to move Tesla to Texas after judge cancels his mega reward | Economy

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“The public mood is unequivocally in favor of Texas! Tesla will immediately proceed to a shareholders meeting,” the billionaire said in a message on his short message service X (formerly Twitter).

A judge in Delaware had on Tuesday rejected the compensation package worth 55 billion dollars (almost 51 billion euros) for Tesla CEO Elon Musk. As a result, the size of the wealth of the richest man in the world has suddenly become uncertain. Without the package, his wealth would drop to more than US$154 billion ($142 billion), making him the third-richest person on earth from no longer the richest.

LOOK. Musk may lose $55 billion

The wealthy businessman was already promised the package from Tesla in 2018. It was the largest remuneration package ever for a company director. But one shareholder labeled the mega reward as “excessive”. The judge in Delaware agreed with that reasoning.

Musk was promised stock options at the time. The amount is now so high because Tesla’s stock price has risen considerably over the years.

The article is in Dutch

Tags: Elon Musk move Tesla Texas judge cancels mega reward Economy

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