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Elon Musk request to reinstate his $56 billion Tesla pay package is again rejected by judge
Elon Musk’s efforts to get his massive $56 billion 2018 Tesla pay package reinstated was rejected by a Delaware judge on Monday.
The decision, issued by Delaware Chancery Court Judge Kathaleen St. J. McCormick, comes after a majority of Tesla shareholders in August reauthorized the compensation package during the electric vehicle maker’s annual meeting.
After it was initially approved in 2018, the pay package sparked a lawsuit from some Tesla shareholders who accused Musk and Tesla’s board of directors of breaching their duties and unjustly enriching the billionaire. A Delaware judge ruled that Musk and his company failed to prove that the huge payout was legally warranted, prompting Musk to take the issue back to his shareholders in August.
In her Dec. 2 decision, McCormick said that Musk had asked the court “to flip its decision and enter judgment in their favor.”
She added, “The motion to revise is denied.”
The stock options Tesla granted to Musk were initially worth $2.6 billion but had soared to $56 billion when McCormick blocked the package in January, according to Bloomberg News.
—This is a breaking story and will be updated.
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CBS News
Kash Patel, Trump’s pick for FBI director, targeted in possible Iran-backed cyberattack, sources say
Kash Patel, President-elect Donald Trump’s pick to lead the FBI, was recently notified that he was the target of a potential Iran-backed cyberattack, two people familiar with the matter confirmed to CBS News.
The apparent hackers targeted his communications, but whether they succeeded and how much access they had to the data is still being investigated, the people said.
The FBI declined to comment. CBS News had also reached out to the Trump campaign for comment.
The news of Iran’s potential targeting of Patel was first reported by Semafor.
This comes after months of warnings from the FBI and other federal agencies of Iranian cyber activity targeting Trump campaign staff leading up the 2024 presidential election. In September, Justice Department prosecutors charged three members of Iran’s Revolutionary Guard Corps with launching a broad hacking campaign against U.S. officials, including those close to Trump.
In August, Microsoft said that Iran was increasing its efforts to influence the November election, and in one case had targeted a presidential campaign with an email phishing attack.
Trump and his allies, including members of his first administration, have been targets of Iran since the 2020 killing of Gen. Qassem Soleimani in a U.S. airstrike in Baghdad, and U.S. officials continued to warn of those cyberattack campaigns in recent months.
The 44-year-old Patel served in intelligence and defense roles in Trump’s first term, including chief of staff to the secretary of defense. He was also designated by Trump to be a representative to the National Archives and Records Administration and fought a subpoena to testify before a federal grand jury in the Mar-a-Lago classified documents case.
He is an attorney and staunch Trump loyalist who rose to prominence as an aide to former Republican Rep. Devin Nunes of California, fighting the investigation into Russian interference in the 2016 election.
He served on Trump’s National Security Council, then as a senior adviser to acting Director of National Intelligence Ric Grenell, and later as chief of staff to acting Defense Secretary Christopher Miller.
President-elect Donald Trump is considering selecting Florida Gov. Ron DeSantis as his pick for defense secretary to potentially replace embattled Fox News host Pete Hegseth, two sources familiar with the transition told CBS News Tuesday night.
This comes after Trump and DeSantis attended a memorial for fallen law enforcement officers Tuesday in Florida.
The Wall Street Journal was first to report this story.
This is a developing story and will be updated.
