Delaware Confiscates $100 Billion of Musk's Wealth
By Newsmax Wires | Monday, 02 December 2024 10:42 PM EST
A Delaware judge moved Monday to confirm its confiscation of Elon Musk's wealth that he created at Tesla — denying him a compensation package that would be worth over $100 billion in value today.
Musk has paid a heavy price for countering woke politics, making X a neutral platform, and backing Donald Trump for president.
Delaware Chancellor Judge Kathaleen McCormick on Monday ruled to confirm her January ruling that found Musk was not eligible for a 2018 compensation package then valued at $56 billion.
McCormick complained the Tesla package for Musk was the "biggest compensation plan ever — an unfathomable sum."
After McCormick had initially ruled that Musk had not gotten proper approval from Tesla shareholders, Musk filed suit.
Musk said he properly received board approval and later hit financial targets to earn the compensation, including benchmarks based on stock value, profitability, and revenue.
At one point, visionary Musk had driven the value of Tesla to close a trillion dollars during the compensation period. Today, Tesla holds a market cap of over $1.1 trillion.
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READ MORE: https://www.newsmax.com/newsfront/delaware-judge-ruling/2024/12/02/id/1190116/
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