Elon Musk Slams $7.2 Billion Legal Fee in Tesla Pay Dispute as 'Disgraceful' and 'Evil'

July 9, 2024
Elon Musk Slams $7.2 Billion Legal Fee in Tesla Pay Dispute as 'Disgraceful' and 'Evil'
  • The legal battle over Elon Musk's $56 billion pay package at Tesla has intensified.

  • Plaintiff attorneys are seeking a record-breaking $7.2 billion in compensation for challenging the pay plan.

  • The attorneys claim their efforts benefited Tesla by returning shares valued at $51.4 billion that would have gone to Musk.

  • Critics, including Tesla shareholders and over 8,000 individuals, have objected to the fee request.

  • The Delaware judge who ruled Musk's compensation plan illegal has not yet decided on the fee request.

  • Musk has condemned the fee request as 'utterly disgraceful' and 'evil.'

  • An alternative fee structure of $1.44 billion in cash has been proposed by the plaintiff attorneys.

  • The court is also considering the impact of a recent shareholder vote to ratify Musk's pay.

  • Tesla argues the legal victory has been turned into a loss due to the fee request.

  • Once a ruling is issued, Musk will have 30 days to appeal, possibly setting a new record in shareholder litigation.

Summary based on 8 sources


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