US judge rejects Tesla CEO Elon Musk’s $101 billion pay package

Tesla CEO Elon Musk has once again faced a setback as a Delaware judge has denied $56 billion pay package reinstatement. Chancellor Kathaleen McCormick of the Court of Chancery has upheld her previous decision to block Elon Musk’s controversial $56 billion Tesla compensation package despite Tesla shareholders voting in June to reinstate it. The chancellor cited the package as excessive and criticized the ratification vote, stating it came too late and involved conflicts of interest, particularly with Musk overseeing pay negotiations.