Elon Musk’s $56B Tesla package reinstated by Delaware Supreme Court

The Delaware Supreme Court has reinstated Elon Musk’s $56 billion Tesla investment from 2018, knocking it down. last year’s resolution and the Chancery Court of the state, according to an idea published on Friday.

In one decision, the judges at the Delaware Supreme Court said that the cancellation of Musk’s package “left him “unpaid for his time and efforts for six years.” Adjusted for Tesla’s stock price, which rose sharply this week, the restored package would be worth about $140 billion, according to Bloomberg.

The state Supreme Court decision should end a years-long battle that left such a bad taste in Musk’s mouth that he moved Tesla’s incorporation from Delaware to Texas, prompting other companies to follow suit.

“Confirmed,” Musk has been sent for X Friday in response to the news. “Thank you for your unwavering support,” he he answered to Alexandra Merz, who shares a voice known as “TeslaBoomerMama.”

Tesla now has to reimbursing $29 billion issued Musk earlier this year, which is meant as a wall against the company to lose the Delaware Supreme Court appeal. $1 trillion in debt the one presented to Musk in November is different from this, and will continue to exist in the future, giving Musk a list of high goals to hit in order to unlock the full price.

The 2018 award also established several milestones that Musk had to complete to unlock the full price. Musk and Tesla achieved all these goals, but before the shareholder made a decision on the award in 2018, he says that it was poorly communicated and that the shareholders were not properly informed about the ongoing disputes.

Musk and many Tesla backers have argued that the lawsuit is frivolous, especially since the plaintiff — a former company defense lawyer and heavy metal drummer named Richard Tornetta — is alone. he owned nine shares of the company’s stock.

After years of back and forth, including a trial in which Musk testified, the Chancery Court judge presiding over the case sided with the plaintiff and he first spent the payment in January 2024. Tesla voted at its annual meeting in 2024 where the owners “re-approved” the package, but the judge. it has been confirmed his decision in December 2024. Tesla appealed shortly after.