As Elon Musk is engulfed in his Twitter overhaul, the entrepreneur heads for a lawsuit to defend his record $56 billion Tesla Inc salary against allegations that he unfairly enriched him without requiring his full presence time at the car manufacturer.
A Tesla shareholder TSLA.O is seeking to rescind Musk’s 2018 pay deal, saying the board set easy performance goals and Musk created the package to fund his dream of colonizing Mars.
Richard Tornetta, one of Tesla’s shareholders, wants to terminate the agreement under which Elon Musk is paid.
As we can see, not everyone likes the kind of commitment with which Elon Musk involves himself in the affairs of the social network Twitter. Richard Tornetta believes that the American billionaire spends too little time at Tesla and does not show up for work often enough.
According to the shareholder, Elon Musk has set himself very easy goals. The plaintiff believes that the American billionaire appears at work less than he should, but collects a salary and enriches himself illegally.
Tesla management said Elon Musk’s job is not to visit the office, but to ensure the company’s growth. And he makes a
his work is excellent at the moment. The boss of Tesla was able to achieve 11 goals out of 12, which ensured him the payment of 56 billion dollars, which the plaintiff wants to claim. Another bonus of achieving goals is the ability to buy 1% of the company’s stock at a discount.
The hearing is set for November 14, 2022. It will be conducted by Delaware Chancery Court Judge Kathaleen McCormick, who handled the proceedings between Ilon Musk and Twitter.
Tesla Inc. is an automobile manufacturer of electric cars. The company name is a tribute to Nikola Tesla, an American inventor and engineer of Serbian origin. It was founded in 2003. Elon Musk is its current leader
Reuters