Elon vs. the lawyers – Bloomberg

Tesla Inc.’s shareholders voted to pay Elon Musk $56 billion (in Tesla stock) if he could raise Tesla’s market cap by $600 billion, and he did, and they were mostly happy, and then some lawyers sued and got a Delaware court to rescind that compensation package, and now those lawyers want $5.6 billion (in Tesla stock) for taking away Musk’s paycheck. I am not by any means an uncritical Elon Musk fan, but I think it is obvious to the casual observer that he has created more than 10 times as much value, for Tesla’s shareholders, as Greg Varallo has. And I think it is weird that Delaware law might not allow Tesla’s shareholders to vote to pay Elon Musk $56 billion, but might require them to pay Greg Varallo $5.6 billion without a vote. Not very shareholder-friendly!

Source: Elon vs. the lawyers – Bloomberg