A compensation value $55 billion was a historic one, and it might have made Musk even richer regardless of already main the world’s richest particular person listing for a wholesome portion of time up to now couple of years. But now that the grant has been voided by the court docket as a result of it was deemed unfair, Musk has one final alternative left within the type of an enchantment. If that fails, the board must give you a brand new plan to pay him for the previous 5 years of his service.
I like to recommend incorporating in Nevada or Texas should you desire shareholders to determine issues
— Elon Musk (@elonmusk) January 31, 2024
“Never incorporate your company in the state of Delaware,” Musk shared on X, previously generally known as Twitter, quickly after the decision was introduced. “Was the plan even necessary for Tesla to retain Musk and achieve its goals?” Delaware Chancery Court Chief Judge Kathaleen St. J. McCormick requested. Without the compensation factored into his cumulative wealth, Bloomberg estimates that Musk’s web value would drop right down to roughly $154.3 billion, placing him third on the listing of the world’s richest people.
It’s additionally value noting {that a} majority of Musk’s wealth is tied to Tesla, the place he owns near a 13% share. Musk, alternatively, has currently been eyeing as much as a 25% stake in Tesla in hopes of touchdown extra significant voting rights on the board. During a previous trial over the compensation plan in 2022, Musk informed the court docket that it could assist fund his plans for putting mankind on Mars and attaining interplanetary journey.