Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Stuart Varney: Elon Musk is at the center of another legal 'earthquake' By: FOX Business February 01, 2024 at 13:12 PM EST FOX Business' Stuart Varney discussed the decision by a Delaware judge to strike down Elon Musk's $56 billion Tesla pay deal on the grounds that it's "excessive." During his "My Take," Thursday, "Varney & Co." host Stuart Varney reacted to a Delaware judge voiding Elon Musk's $56 billion Tesla compensation package, arguing the decision could push the world's richest man to leave "The First State" and re-incorporate in Texas.STUART VARNEY: Elon Musk really wanted his $56 billion payout. It’s a lot of money, but he met all the performance requirements and the board approved it. TESLA TO TEXAS? ELON MUSK ANNOUNCES MAJOR SHAREHOLDER VOTEThe Delaware Court of Chancery is where big business cases are judged. The court said no. You don't deserve the money. It’s not fair. It’s excessive.Predictably, Musk went ballistic. He organized a poll on X asking if Tesla should move jurisdiction from Delaware to Texas. ELON MUSK'S $56 BILLION PAY PACKAGE VOIDED BY JUDGEMusk says the poll produced, "an unequivocal" yes. He's now going to poll shareholders. Texas, by the way, has established its own business court. Once again, Musk is at the center of an earthquake. The judge in Delaware had essentially told Tesla what it could pay its chief executive. There are plenty of very highly paid executives, whose companies use the Delaware court. So who is next? A disgruntled shareholder gets upset over CEO pay.TESLA STOCK DIVES AFTER EARNINGS, WARNS OF SLOWER GROWTHWell, it’s the Delaware court that will decide what's excessive. Musk is having none of it. He left California two years ago. Fed up with what he called California's 'over-regulation, over-litigation and over-taxation."Now he wants to leave the Delaware court. "Never incorporate your company in the state of Delaware," he says.This is classic Musk. Move fast, force the issue. All hands on deck, get out of the way. MUSK WANTS MORE VOTING CONTROL AT TESLA BEFORE EXPANDING AI WORKThat has made him the most interesting, successful, and dynamic executive in the world, and one of the richest.Maybe that’s what Delaware didn't like about him.FOR MORE FOX BUSINESS CLICK HERE Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Stuart Varney: Elon Musk is at the center of another legal 'earthquake' By: FOX Business February 01, 2024 at 13:12 PM EST FOX Business' Stuart Varney discussed the decision by a Delaware judge to strike down Elon Musk's $56 billion Tesla pay deal on the grounds that it's "excessive." During his "My Take," Thursday, "Varney & Co." host Stuart Varney reacted to a Delaware judge voiding Elon Musk's $56 billion Tesla compensation package, arguing the decision could push the world's richest man to leave "The First State" and re-incorporate in Texas.STUART VARNEY: Elon Musk really wanted his $56 billion payout. It’s a lot of money, but he met all the performance requirements and the board approved it. TESLA TO TEXAS? ELON MUSK ANNOUNCES MAJOR SHAREHOLDER VOTEThe Delaware Court of Chancery is where big business cases are judged. The court said no. You don't deserve the money. It’s not fair. It’s excessive.Predictably, Musk went ballistic. He organized a poll on X asking if Tesla should move jurisdiction from Delaware to Texas. ELON MUSK'S $56 BILLION PAY PACKAGE VOIDED BY JUDGEMusk says the poll produced, "an unequivocal" yes. He's now going to poll shareholders. Texas, by the way, has established its own business court. Once again, Musk is at the center of an earthquake. The judge in Delaware had essentially told Tesla what it could pay its chief executive. There are plenty of very highly paid executives, whose companies use the Delaware court. So who is next? A disgruntled shareholder gets upset over CEO pay.TESLA STOCK DIVES AFTER EARNINGS, WARNS OF SLOWER GROWTHWell, it’s the Delaware court that will decide what's excessive. Musk is having none of it. He left California two years ago. Fed up with what he called California's 'over-regulation, over-litigation and over-taxation."Now he wants to leave the Delaware court. "Never incorporate your company in the state of Delaware," he says.This is classic Musk. Move fast, force the issue. All hands on deck, get out of the way. MUSK WANTS MORE VOTING CONTROL AT TESLA BEFORE EXPANDING AI WORKThat has made him the most interesting, successful, and dynamic executive in the world, and one of the richest.Maybe that’s what Delaware didn't like about him.FOR MORE FOX BUSINESS CLICK HERE
