Dispute over billion-dollar share package: Musk is appealing

The Dispute over Tesla shares in current value of more than 100 billion dollars for company boss Elon Musk goes to the next round. The tech billionaire laid vocation against the ruling of a judge in the US state of Delaware who denied him the package. The Delaware Supreme Court will now deal with the case, as will the tax service Bloomberg reported.

The judge decided about a year ago after a shareholder lawsuit that the Allocation of the package is not legal had been. Musk is in negotiations with the board of directors of the electric car manufacturer too much influence in the background – and this is for the shareholders been kept secretshe argued.

The case took an unusual turn after Tesla shareholders approved the package again at a general meeting in June – this time obviously with more information just from the company sensational process. However, the judge stood by her rejection.

Dispute over 300 million Tesla shares

Musk left the official Company headquarters from Tesla now from Delaware to Texas embarrassed – However, this has no influence on the 2018 package. The compensation plan at the time granted Musk the right to gradually acquire a good 300 million Tesla shares at the 2018 price if the company met ambitious goals over a period of up to ten years. Tesla hit the targets much faster.

The compensation plan was originally valued at $2.6 billion. At the time of the judge’s first decision, the package was already worth 56 billion.

In the past few months the… Course of Tesla shares again increased rapidlybecause investors assume that the car manufacturer will be close to Musk’s future US president Donald Trump will benefit. Thanks to his current involvement, Musk is by far the one richest person in the world. So appreciate Bloomberg his assets are currently at $426 billion.