Elon Musk’s 2018 Tesla pay package restored by Delaware court | Elon Musk

Elon Musk’s controversial $56 billion pay packet from Tesla was reinstated by the Delaware supreme court on Friday, two years after a lower court called the huge compensation deal “incomprehensible.”

The decision comes less than two months after Tesla shareholders approved a new plan that could be worth $1 trillion within a decade for Musk, who is already the world’s richest person. He overturned a decision that sparked an angry response from Musk.

Echoing Tesla board members’ arguments earlier this year, Delaware Supreme Court justices wrote that canceling the salary agreement would be “unfair” and would leave Musk “uncompensated for his time and effort over a six-year period.”

At the company’s annual meeting this November in Austin, Texas, shareholders also approved a stopgap for Musk, ensuring he receives the $56 billion his supporters say he’s owed regardless of how the Delaware supreme court rules on that appeal.

Both compensation packages and other pay plans approved by Tesla shareholders require Musk to meet a series of major goals related to product development and increasing the company’s value before he can cash in those rewards.

More details coming soon…