His 56bil package was thrown out by the judge.
Like Trump am sure he will appeal all the way to Supremacy
Does this mean he loses his ultra wealth?
@Georgesoros I make the prediction half-awake that Elon Musk will/would win the 56B suit on appeal. Why?
1. "Conflict of interest"
Musk was not on the board when the deal was discussed. He had been stripped by the SEC over some other lunacy. Musk was and remains a legal
employee of the company and entitled to negotiated benefits. If the board was incompetent or shortchanged that is not Musk's problem. But were they?
2. Public or "shareholder interest"
This is so objectively overblown by that Delaware court. A shareholder's interest is growth in value of their investment. Tesla value has risen from 50B to at least 500B. Musk compensation is a fraction of the gains - what "interest" is the litigant talking about?
3. Delaware interest
Majority of the vaunted Big Tech and many companies register in Delaware for the legal wiggle room it allows in corporate taxes, JVs, etc. This court decision is chopping the nose to spite the face. I don't need to check to know how many phone calls Delaware AG and politicians have made persuading Tesla and other companies not to bolt the state.
4. I am half as sleepy now - something about irreversible damage. The shareholder should have obtained a stay immediately the 56B deal was done. Musk already spent the cash to buy Twitter. 🙂. Most importantly,
Musk already delivered his part of the deal - [snoring]
