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- Elon Musk’s $56B pay package again struck down by DE judge despite shareholder vote
Elon Musk’s $56B pay package again struck down by DE judge despite shareholder vote
Bay Area Times
December 03, 2024
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Top stories today:
- Elon Musk’s $56B pay package again struck down by DE judge
- SpaceX said to consider tender offer at $350B valuation
- Intel CEO Pat Gelsinger forced to retire amid falling revenue
- Startup secondary discounts drop to 12% from 50% in early 2023
- EU births -5.5%, largest decline as demographic challenges intensify
- U.S. labor productivity growth outpace rest of G7 countries
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing today’s newsletter (beware of the few hallucinations):
1. Elon Musk’s $56B pay package again struck down by DE judge despite shareholder vote
Tesla’s board was improperly influenced by Musk, Judge Kathaleen St. J. McCormick said.
“Absolute corruption,” Musk called the decision.
$56B was the package value by the time it was canceled on Mon., up from the initial $2.6B in 2018.
Tesla will appeal the decision with the Delaware Supreme Court.
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3. SpaceX said to consider tender offer at $350B valuation
+67% in valuation over the $210B recorded earlier this year.
$255B valuation was speculated last month.
4. Intel CEO Pat Gelsinger forced to retire amid falling revenue
