AssetID: 54596870
Headline: UNCAPTIONED: Elon Musk Appeals Ruling That Stripped His $56 Billion Tesla Pay Package
Caption: Elon Musk Appeals Ruling That Stripped His $56 Billion Tesla Pay Package. Elon Musk has launched an appeal to reinstate his record-breaking $56 billion Tesla compensation plan arguing that a lower court wrongly overturned it. The 2018 pay deal fueled massive company growth but was ruled unfair to shareholders by the Delaware Court of Chancery. Chancellor Kathaleen McCormick rescinded the package in January calling it "unfathomable" due to Tesla withholding key details from investors. Despite shareholders reapproving the plan in June, the judge rejected it as grounds to reverse the decision. With Tesla stock struggling and Musk hinting at focusing on projects outside the company this legal battle could determine his future at the automaker. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
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