Reported about 13 hours ago
Elon Musk's record $1 trillion pay package from Tesla is enabled by a new management-friendly law in Texas, where the company reincorporated after a Delaware court deemed his previous $56 billion compensation excessive. This new legislation allows Musk to use his voting power to secure approval for his pay, insulated from shareholder lawsuits unlike in Delaware. Tesla's recent bylaw requiring shareholders to own 3% of stock to sue further protects the company, placing shareholders in a more challenging position to challenge Musk's compensation.
Source: YAHOO