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IPFS News Link • Justice and Judges

Elon Musk's $55b pay package at Tesla is struck down by Delaware judge...

• Daily Mail

Elon Musk could lose his position as richest man after a Delaware judge's court ruling put the CEO's future fortune in jeopardy. 

A judge ruled on Tuesday that Musk must hand back the biggest pay packet in corporate history.

Judge Kathleen McCormick found that the $55 billion awarded to Musk five years ago was a result of the CEO strong-arming Tesla directors. 

McCormick in her ruling found that the process leading to the board's approval of his 2018 compensation package was 'deeply flawed' because of how close Musk was to some of its members. 

The South African businessman could lose his top spot in the rankings for wealthiest person.

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