· 4d · on MSN
Elon Musk had his $100 billion Tesla pay package denied by Delaware courts twice. Now, one of the EV maker’s law firms wants to change state law
· 6d
Tesla's law firm drafts Delaware bill that could salvage Musk pay package
Delaware Lawmakers Want to Avoid Another Tesla & Elon Musk Situation With a New Bill
Delaware lawmakers have come together in a bipartisan effort to change corporate law to avoid more companies moving operations out of the
Elon Musk went to war with Delaware over its corporate laws after a judge shot down his massive Tesla pay package, moving his companies out west. Now the First State is responding with a legislative overhaul to keep other moguls from following him.
Meta, AI entrepreneurs, academics, and other charities and activists are criticizing the startup's plan to shed its ties to its non-profit parent.
Tesla's law firm helps draft legislation that some experts say could restore Musk's $55B pay package
A law firm representing Elon Musk and Tesla helped draft a bill some experts say could, if passed, possibly restore Musk's lost multibillion-dollar compensation package.
The proposed bill, which was posted on the Delaware General Assembly’s website on Monday, would make it more difficult for shareholders to show that a corporate director is “conflicted” in a deal, a legal status which makes it easier to prove the transaction was unfair to ordinary shareholders.
After a bruising battle with Elon Musk, the state where most of the S&P 500 is incorporated, is making itself more pliable for boards and big shareholders.
More CEOs fed up with Delaware and its powerful Chancery Court are going the way of Elon Musk, reincorporating their companies elsewhere and publicly airing their frustrations.
Elon Musk recently attempted an unsolicited takeover of OpenAI that was rejected. Now the creator of ChatGPT wants to make sure that any future coups from the world's richest man won't be successful.
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