The deal that made Elon Musk the richest person in the world… on the “difficult path”

The $56 billion payout that Elon Musk received from Tesla — which was called an “immense sum” by a Delaware judge who threw it out Tuesday — was the cornerstone of the eccentric CEO becoming the world’s richest person, having set out to explore the universe. Bold bets encouraged. Digitize the human brain and get the “real state” of Twitter.

Faiz Siddiqui

Now, I may have to give it all back.

Legal experts say Musk will likely be forced to give back at least some of the secured stock options as part of his 2018 pay package, an award that was — and still remains — of unprecedented scope. .

Chancellor Kathleen McCormick wrote, “The plan is the largest potential compensation opportunity ever seen in the public markets by several orders of magnitude.” “The plan is 33 times larger than the closest comparison, which was Musk’s previous compensation plan,” he added.

No matter how much Musk had to sacrifice to fulfill his many other ambitions, he could always trust that additional shares of Tesla’s attractive package were just around the corner. Now, according to legal experts, McCormick’s decision will definitely force the company to draw up a plan to return Musk’s stock options.

Wall Street has not yet acknowledged the gravity of the decision.

Daniel Ives, managing director of Wedbush Securities, said it could be “a watershed moment in Tesla’s history.” But “the board,” he added, “certainly is not going to sit back and let a Delaware court decide the future of the company.”

Late Wednesday night, Musk announced on X that he was “clearly in favor of Texas!”

In more detail Washington Post