Judge REFUSES Elon Musk’s Rightful $56 Billion Payday

Elon Musk’s $56 billion compensation plan just hit pause.

A Delaware judge (that some are calling an activist) doubled down on her previous ruling.

Despite Tesla’s shareholder giving the okay, Chancellor Kathaleen McCormick wasn’t swayed.

Was her inner liberal Marxist calling the shots?

Was she afraid of what Musk might do with this money? He might buy NBC! Can’t let that happen. Better to make sure he doesn’t get money that rightful belongs to him.

This is outrageous!

You know what she did instead?

She handed the legal team that sued on behalf of shareholders a $345 million payday!

This isn’t over.

This judge forgets what era we all just entered.

The hammer of justice is coming, and that applies to every area.

BREAKING: Tesla CEO Elon Musk loses bid to get $56 billion pay package reinstated

This is even after Tesla shareholders approved it again in June 2024 after 2018 vote.

You can’t make this up. pic.twitter.com/MRdPmhgxI6

— Tesla Owners Silicon Valley (@teslaownersSV) December 2, 2024

"Even if a stockholder vote could have a ratifying effect, it couldn’t do so here" – Kathaleen McCormick overruling TSLA stockholders to take away $56 billion compensation from Elon Musk pic.twitter.com/qQsqtp8iYm

— End Wokeness (@EndWokeness) December 2, 2024

NBC reports:

Tesla CEO Elon Musk lost his bid to get his 2018 CEO pay package reinstated on Monday when a Delaware judge upheld her prior ruling that the compensation plan was improperly granted.

The package, worth about $56 billion, was the largest compensation plan in U.S. history for a public company executive.

Musk attorneys attempted to sway the judge in the Delaware business court after the trial to reverse her opinion rescinding the CEO’s pay plan. Tesla had conducted a shareholder vote to “ratify” Musk’s 2018 pay plan at the EV maker’s annual shareholder meeting in Austin, Texas, in June.

Chancellor Kathaleen McCormick wrote in her opinion on Monday that, “Even if a stockholder vote could have a ratifying effect, it could not do so here.” The judge approved a $345 million attorney fee award for the lawyers who successfully sued on behalf of Tesla shareholders in order to void the pay plan.

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“We are pleased with Chancellor McCormick’s ruling, which declined Tesla’s invitation to inject continued uncertainty into Court proceedings and thank the Chancellor and her staff for their extraordinary hard work in overseeing this complex case,” attorneys from Bernstein, Litowitz, Berger & Grossmann, the firm representing the plaintiff, said in a statement.

Musk can appeal the decision to the Delaware Supreme Court.

Following McCormick’s decision in January to void the plan, Musk lashed out at the court, posting on X, “Never incorporate your company in the state of Delaware.” The company then held a shareholder vote to reincorporate in Texas, and officially shifted its incorporation there in June.

The people are outraged and speaking up for Elon on X.

SHOCKING: Not only did an activist Delaware Judge block Elon Musk’s board and shareholder approved pay package, but she also awarded $345m in compensation to the lawyers who sued.

Delaware’s courts are outrageously corrupt. Companies should leave now.#LeaveDelaware pic.twitter.com/2Xe2PNr3yu

— Leave Delaware (@LeaveDelaware) December 2, 2024

Patrick Ben-David made a good point back in June:

Elon deserves every single penny of the $55 Billion.

He had to increase Tesla’s market value from $59b to $650b within 10 yrs.

The board was convinced he would NEVER hit it so they won’t have to pay.

He did it in 6 years.

Pay the man his money!

pic.twitter.com/0Wge6XhUww

— Patrick Bet-David (@patrickbetdavid) June 12, 2024

Elon Musk poured his Blood, Sweat and Tears into creating Tesla and SpaceX in 2000s, as he navigated through Pain and suffering to save Tesla from the threat of Bankruptcy and take it where it is right now, therefore he absolutely deserves his $56 Billion compensation package.! pic.twitter.com/jZEK0iVHsa

— SMX 🇺🇸 (@iam_smx) May 17, 2024

What’s happening behind closed doors?

Chancellor Kathaleen Saint Jude McCormick has again went against the will of the shareholders.

Rejected Elon Musk’s request to restore his $56 billion performance-based pay package.

This judge is clearly politically motivated. pic.twitter.com/YMDTaIVsOP

— Chris (@x_CB27) December 2, 2024

What’s the real reason she ruled this way?

Delaware Chancellor McCormick, who had previously ruled against Elon Musk’s $56 billion Tesla compensation package, has reaffirmed her decision to reject the pay deal, despite its approval by shareholders.

Corruption of the highest order.

PAY ELON MUSK! pic.twitter.com/qkIER87GzH

— Sir Doge of the Coin ⚔️ (@dogeofficialceo) December 2, 2024

#JusticeForElon