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The Delaware Supreme Court has reinstated Elon Musk\u2019s $56 billion Tesla pay package from 2018, overturning last year\u2019s ruling<\/a> by the state\u2019s Chancery Court, according to an opinion<\/a> published Friday.<\/p>\n In a unanimous ruling, the judges on the highest court in Delaware said that canceling Musk\u2019s package left him \u201cuncompensated for his time and efforts over a period of six years.\u201d Adjusted for Tesla\u2019s current stock price, which hit all-time highs this week, the reinstated package would be worth around $140 billion, according to Bloomberg<\/a>.<\/p>\n The state supreme court\u2019s decision likely draws to a close a years-long battle that left such a bad taste in Musk\u2019s mouth that he moved Tesla\u2019s incorporation from Delaware to Texas, which prompted other companies to follow suit.<\/p>\n \u201cVindicated,\u201d Musk posted<\/a> to X on Friday in response to the news. \u201cThank you for your unwavering support,\u201d he replied<\/a> to Alexandra Merz, a vocal shareholder known as \u201cTeslaBoomerMama.\u201d <\/p>\n Tesla will now likely revoke a $29 billion pay package<\/a> it offered Musk earlier this year, which was meant as a hedge against the possibility that the company could lose the Delaware Supreme Court appeal. The $1 trillion compensation package<\/a> awarded to Musk in November is separate from that, and will continue to exist going forward, giving Musk a series of lofty goals to hit in order to unlock the full value.<\/p>\n The 2018 award also set out a number of milestones that Musk had to hit in order to unlock the full value. Musk and Tesla hit all of those goals, but not before a shareholder filed suit over the award in 2018, arguing that it had been improperly negotiated and that shareholders weren\u2019t properly informed of the conflicts of interest at play.<\/p>\n Musk and the many Tesla supporters decried the lawsuit as absurd, particularly the fact that the plaintiff \u2014 a former corporate defense lawyer and heavy metal drummer named Richard Tornetta \u2014 only owned nine shares of company stock<\/a>.<\/p>\n Techcrunch event<\/p>\n \n\t\t\t\t\t\t\t\t\tSan Francisco<\/span> After years of back-and-forth, including a trial where Musk testified, the Chancery Court judge overseeing the case agreed with the plaintiff and initially struck down the pay package in January 2024<\/a>. Tesla held a vote at its annual meeting in 2024 where shareholders \u201cre-approved\u201d the package, but the judge confirmed<\/a> her decision in December 2024. Tesla appealed soon after.<\/p>\n<\/div>\n
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\n\t\t\t\t\t\t\t\t\t\t\t\t\tOctober 13-15, 2026<\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n