Elon Musk could still pocket tens of billions more dollars. But he might have to wait a bit
CNN
Elon Musk isn’t getting the $101 billion windfall he so desperately wanted. But he’s still among the richest people on the planet and poised to get much richer in the coming years.
Elon Musk isn’t getting the $101 billion windfall he so desperately wanted. But he’s still among the richest people on the planet and poised to get much richer in the coming years. Delaware Chancery Court Chancellor Kathaleen McCormick again threw out a 2018 pay package from Tesla that gave him options to buy 304 million shares of the company at the bargain price of $23.34 a share, a small fraction of Tesla’s trading price Tuesday of more than $350 a share. She wrote that even though 84% of shareholders other than Musk and his brother Kimbal had once again approved the options package since her initial decision throwing it out in January, a pay package that gives this much wealth to the company’s CEO was not fair to shareholders and her previous decision rejecting it remains in force. Musk, in response, accused McCormick of being “a radical far left activist cosplaying as a judge.” But there’s no need to set up a GoFundMe page for Musk. He remains one of the richest people on the planet, if not the richest, even with the loss of a 12-figure pay package. And there are numerous ways in which Musk can accumulate significantly more wealth in the months and years ahead, even if he’s not successful challenging the court decision. Musk could simply enrich himself to a slightly lesser extent.
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