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Three times over the five hours, Biden told Hur he is a “frustrated architect.”He allowed that his wife, Jill, once offered to send him to architecture school if he’d only stop running for the Senate. “I have them hanging on the walls all over the downstairs, the television room, and some in the library,” Biden told Hur. In subsequent years, as vice president, Biden collected $2,200 a month in rent payments for the guest house from the Secret Service. It was there that investigators found his personal notebooks documenting key meetings from his time as vice president. “I just wanted you to know I picked out the walnut tree that got cut down,” Biden told investigators.

Persons: Joe Biden, Robert Hur, Biden, Hur, ”, Jill, he's, “, ” Biden, Hunter, Beau, Jimmy, I’ve, knickknacks, He's Organizations: WASHINGTON, Senate, FBI, Service, Democratic, Wilmington, Amtrak, White, Secret Service Locations: Wilmington , Delaware, Wilmington, Philadelphia, Delaware, Washington, The Delaware

As of Thursday night, two tornado reports had been made in Indiana and five in Ohio, according to the Storm Prediction Center. More than 10,000 homes and businesses in Indiana and nearly 37,000 in Ohio were without power late Thursday night, according to PowerOutage.us. In Winchester, Indiana, state police were helping with search and rescue efforts after a tornado likely struck the area, and temporary shelters have been set up for residents, agency spokesperson Sgt. State police Superintendent Doug Carter described the storm in Winchester as a “terrible, terrible event” with many reports of significant injuries. The tornado reports in Indiana and Ohio came as a system of strong thunderstorms swept across parts of the central and eastern US on Thursday.

Persons: CNN —, Injuries, wouldn’t, Scott Keegan, Doug Carter, Carter, “, ”, Mary Rutan, David Crissman, Crissman, Alena Roberts, Mike Robbins, Robbins, CNN’s Taylor Ward, Raja Razek, Andy Rose, Jamiel Lynch, Jason Hanna Organizations: CNN, Storm Prediction, Authorities, Emergency Management Agency, Storm Prediction Center, National Weather Service, Mary Locations: Indiana, Ohio, Texas, Pennsylvania, Winchester , Indiana, Winchester, Selma , Indiana, Delaware, Ohio’s Auglaize, Logan, Wilmington , Ohio, Ohio’s Logan County, Indian Lake, Lakeview, Logan County, Bellefontaine, Parts, Mercer, Celina, Indiana and Ohio, Oklahoma , Arkansas, Missouri

☆ OpenAI denies Elon Musk lawsuit claim that there ever was founding agreement
▼ + stars: | 2024-03-11 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

OpenAI has challenged a foundational claim Tesla CEO Elon Musk made in the lawsuit he filed against the startup earlier this month. "There is no Founding Agreement, or any agreement at all with Musk, as the complaint itself makes clear," OpenAI said in a document on file with California's superior court for San Francisco County. "The Founding Agreement is instead a fiction Musk has conjured to lay unearned claim to the fruits of an enterprise he initially supported, then abandoned, then watched succeed without him." Musk quoted OpenAI's 2015 certificate of incorporation with the Delaware secretary of state, asserting that it "memorialized" the founding agreement. "Seeing the remarkable technological advances OpenAI has achieved, Musk now wants that success for himself," OpenAI said in its filing.

Persons: Elon Musk, Giorgia Meloni's, OpenAI, Musk, Sam Altman, Greg Brockman, Brockman, Altman, Ilya Sutskever, OpenAI's ChatGPT Organizations: Tesla Inc, New York Times, San, Microsoft Locations: Rome, Italy, San Francisco County, Delaware

☆ Elon Musk might not get to keep his $55 billion Tesla package. But overall, CEOs shouldn't panic about their paydays.
▼ + stars: | 2024-03-07 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

A judge recently voided Elon Musk's $55 billion compensation package at Tesla. AdvertisementA Delaware judge recently ruled that Elon Musk should not get a $55 billion compensation package for his work at Tesla despite his contributions to the company. So now that Musk's compensation has to be renegotiated, will other executives kiss their massive bonuses, stock options, and paychecks, goodbye? The more Tesla was worth, the higher Musk's compensation would get. "I don't know whether individual CEOs are panicking or taking Elon Musk as a role model, thinking, 'Well, if he doesn't like Delaware, then I have to move out of Delaware,'" Lipton said.

Persons: —, Elon, Tesla, I'm, James, Kathaleen McCormick, Musk, Musk Ann Lipton, Lipton, Musk's, Kimbal, Elon Musk Organizations: Elon Musk's, Tesla, Service, University of California, Delaware Supreme, Tulane University, Business Locations: Delaware, Los Angeles

☆ Lawyers seek nearly $6 billion in Tesla stock after getting Musk pay package struck down
▼ + stars: | 2024-03-02 | by ( David Ingram | Lora Kolodny | ) www.cnbc.com time to read: +4 min

The lawyers had earlier convinced the Delaware chancery court to revoke Musk's $56 billion pay package from 2018, with the judge ruling that Tesla's board of directors failed to prove it was fair to shareholders. The lawyers represent former heavy metal drummer Richard Tornetta, who filed the suit on behalf of his fellow Tesla investors. The lawyers are asking for just over 11% of the Tesla shares that would have gone to Musk, or slightly more than 29.4 million shares. Taking their pay in Tesla shares demonstrates they are prepared to "eat our cooking," the lawyers wrote. Musk's pay package was the largest ever disclosed in corporate America, according to Delaware Chancery Court Judge Kathaleen McCormick's 200-page ruling.

Persons: Elon Musk, BARTOSZ SIEDLIK, Elon, paydays, Richard Tornetta, Greg Varallo, Bernstein Litowitz Berger, Grossmann ., Tesla, Kathaleen McCormick's, Musk Organizations: European Jewish Association, Getty Images, Enron, Musk's, Tesla, Grossmann, Musk Locations: Krakow, AFP, Delaware, New York, America, Texas

☆ Trump Media sued by co-founders ahead of DWAC merger, potential setback for lucrative deal
▼ + stars: | 2024-02-29 | by ( Dan Mangan | ) www.cnbc.com time to read: +4 min

Donald Trump (R) and producer Andy Litinsky (L) attend the Comedy Central Roast Of Donald Trump at the Hammerstein Ballroom on March 9, 2011 in New York City. The partnership, United Atlantic Ventures alleges that Trump Media & Technology Group engaged in "wrongful 11th hour ... maneuvering" to dilute UAV''s minority stake in the media company, a court filing says. Donald Trump attends the 'Celebrity Apprentice' Red Carpet Event at Trump Tower on January 5, 2015, in New York City. "They actually went out and did the work, they created Truth Social, and now the beneficiary of that, Donald Trump, doesn't want to pay." CNBC has requested comment from spokesmen for Trump, TMTG and DWAC about the lawsuit, which was first reported by The Washington Post.

Persons: Donald Trump, Andy Litinsky, Moss, Wes Moss, Trump, Jean Carroll, Christopher Clark, Clark, Donald J, TMTG, UAV's, TMTG's Organizations: Trump Media, Twitter, Facebook, United Atlantic Ventures, Trump Media & Technology Group, Trump Tower, Trump, Republican, TMTG, CNBC, The Washington Post, Securities and Exchange Commission, Department of Justice, SEC Locations: New York City, TMTG, Delaware, New York, partnership's Delaware

☆ Hunter Biden says special counsel used Alexander Smirnov’s discredited bribery claims to derail his plea deal
▼ + stars: | 2024-02-20 | by ( Hannah Rabinowitz | Holmes Lybrand | ) edition.cnn.com time to read: +3 min

CNN —Hunter Biden’s lawyers accused special counsel David Weiss on Tuesday of using a since-discredited bribery allegation from an FBI informant to blow up his plea deal last year. House Republicans have championed Smirnov’s uncorroborated bribery claims against the Bidens and used his tips to fuel their impeachment inquiry into the president. Prosecutors were asked directly if the Justice Department could still bring charges against Hunter Biden under the Foreign Agents Registration Act despite the deal. Hunter Biden’s attorney, Christopher Clark, said he disagreed with the prosecutor’s assertion. Tuesday’s filing from Hunter Biden’s attorney also accused prosecutors of failing to abide by their obligation to turn over discovery in the Delaware case, including over allegations that Hunter Biden’s alleged gun bag had cocaine on it.

Persons: CNN — Hunter, David Weiss, Weiss, Alexander Smirnov, Smirnov, Weiss ’, Joe Biden, Prosecutors, Smirnov’s, ” Hunter, ”, ” Weiss, Hunter Biden, “, Leo Wise, Hunter Biden’s, Christopher Clark, ” Wise Organizations: CNN, FBI, Republicans, Prosecutors, Justice Department, Foreign Locations: Nevada, Ukrainian, ”, Delaware

☆ Tesla’s Chair Under Scrutiny for Oversight of Elon Musk
▼ + stars: | 2024-02-15 | by ( Natasha Frost | Jack Ewing | ) www.nytimes.com time to read: +1 min

Elon Musk, the chief executive and public face of Tesla, is constantly making news and broadcasting his opinions on his social media site, X. To some analysts and investors, Ms. Denholm is the “adult in the room” who has helped Mr. Musk turn Tesla into the world’s most valuable automaker. But to her critics, she has failed at her most important job: serving as a check on Mr. Musk. Late last month, a Delaware judge sharply criticized Ms. Denholm’s leadership while striking down Mr. Musk’s 2018 compensation package, which is worth more than $50 billion. Ms. Denholm took a “lackadaisical approach to her oversight obligations” at Tesla, said Chancellor Kathaleen St. J. McCormick of the Delaware Court of Chancery.

Persons: Elon Musk, —, Robyn M, Denholm, Musk, Musk’s, Kathaleen St, J . McCormick Locations: Australia, Delaware

☆ SpaceX files to move incorporation site from Delaware to Texas
▼ + stars: | 2024-02-14 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +1 min

SpaceX has filed to change its incorporation location to Texas from Delaware, according to public filings with the Texas Secretary of State. Neuralink, another one of Musk's companies, has also begun moving its location of incorporation from Delaware to Nevada. He has also promised that Tesla will hold a shareholder vote to get approval to move the company's site of incorporation to Texas. "SpaceX has moved its state of incorporation from Delaware to Texas!" Musk is expected to file for appeal to the Delaware State Supreme Court regarding his pay package.

Persons: Elon Musk, Tesla, Musk, didn't, Elon Organizations: SpaceX, USSF, U.S . Space Force, Missile Defense Agency, Texas, State, Elon, Delaware, Court, Twitter Locations: Cape Canaveral , Florida, U.S, Texas, Delaware, Nevada

☆ How Elon Musk's war on Delaware could change the way corporations make some of their biggest decisions
▼ + stars: | 2024-02-14 | by ( Ian Thomas | ) www.cnbc.com time to read: +4 min

It remains to be seen what Tesla will do about Elon Musk's pay just a few weeks after a Delaware judge voided his $56 billion compensation package, the largest CEO pay package in public corporate history. But Musk has already made some big decisions, including a declaration of a war on the state of Delaware. "Never incorporate your company in the state of Delaware" Musk posted on X shortly after the decision. "Put simply, neither the Compensation Committee nor the Board acted in the best interests of the Company when negotiating Musk's compensation plan. But even as those figures have risen, Musk's compensation would be an "outlier among outliers," said Matteo Tonello, managing director at The Conference Board.

Persons: Elon Musk, Tesla, Elon Musk's, Musk, Chancellor Kathaleen McCormick, McCormick, Charles Elson, Todd Maron, Elson, Matteo Tonello Organizations: Elon, Twitter, Fortune, Weinberg, Corporate, Tesla, Company, The Conference Board Locations: Krakow, Poland, Delaware, Texas, Nevada

☆ Opinion | What the Dutch Lost When They Lost Manhattan
▼ + stars: | 2024-02-14 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

Considering the diverging fortunes of the two islands since that year, this appears at first blush to be the worst deal in history for the Dutch, who formally gained Rhun and lost Manhattan. Likewise, the Dutch didn’t gain Rhun, because they had already seized it to tighten their ruthless monopoly of the nutmeg trade. The 1667 Treaty of Breda, which ended the Second Anglo-Dutch War (out of four), merely acknowledged the facts on the ground. On paper, the deal was even worse for the Dutch than if it had been only an island-for-island exchange. (A separate treaty allowed Dutch ships to carry some cargoes to England without tariffs.)

Persons: Let’s, ”, New Netherland Organizations: Times, Manhattan, British Locations: Rhun, Indonesia, Manhattan, New Amsterdam, Breda, New, Albany, Connecticut, Delaware, Caribbean, Suriname, South America, today’s Ghana, Dutch, England

☆ Tesla board silent as investors await next steps after Elon Musk's $56 billion pay package revoked
▼ + stars: | 2024-02-13 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +7 min

Antonio Masiello | Getty ImagesTwo weeks after a Delaware court ruled that Tesla must rescind Elon Musk's $56 billion pay package, the company's board remains mum on what the decision means for shareholders or what's next for the mercurial CEO. CNBC sent requests for additional information to Tesla investor relations, Musk and some board members. "Given the high stakes involved, it is likely that Tesla will appeal the decision," Kastiel said in an email. In the absence of a successful appeal, "any new compensation arrangement with him will have to be assessed" in light of McCormick's decision, Kastiel said. Kastiel also said that the decision likely makes Musk and Tesla more vulnerable to other types of lawsuits.

Persons: Elon Musk, Antonio Masiello, Tesla, Chancellor Kathaleen McCormick, Musk, Richard Tornetta, Kimbal, Robyn Denholm, JB Straubel, Greg Varallo, Bernstein Litowitz Berger, Grossmann, Varallo, Kobi, Kastiel wasn't, Kastiel, Eric Talley, Talley, wasn't, He's, Walter Isaacson, CNBC's, you'll, Isaacson, Ann Lipton, Lipton, — Organizations: Tesla Inc, Fratelli, Getty, Elon Musk's, SEC, CNBC, Tel Aviv University, Washington University Law, Nasdaq, Columbia Law School, SpaceX, Tesla, Tulane Law Locations: Italy, Rome, Delaware, Texas, Tesla, Nevada, California

☆ A tiny investment firm claims Boeing 'hoodwinked' it into buying a failing supplier — more than a year after Boeing claimed it was 'held hostage' over the same deal
▼ + stars: | 2024-02-11 | by ( Pete Syme | ) www.businessinsider.com time to read: +4 min

Ten Oaks Management accused Boeing of "conning" it into buying a failing supplier, in a counterclaim. But when it assumed control of Astech, Boeing alleges it was "held hostage" by the family office and subject to a "bait and switch." AdvertisementHowever, Ten Oaks hit back with a counterclaim last Friday, saying it was duped into buying Astech by Boeing. The complaint says Boeing's contract with Astech was "lopsided" and leading it into bankruptcy because the pricing didn't even cover manufacturing costs. Another Boeing supplier, Spirit AeroSystems, is also facing scrutiny because it builds the Max 9 fuselage.

Persons: —, Astech, Max, Mike Whitaker Organizations: Oaks Management, Boeing, Service, Business, Ten Oaks Management, KC, Court, Ten Oaks, Ten, Boeing KC, US Air Force Ten Oaks, Alaska Airlines, National Transportation Safety, Federal Aviation Administration Locations: Carolina, Delaware, Astech

U.S. Sen. Chris Coons and German Chancellor Olaf Scholz were seeing double when they met in Washington, D.C., this week and went on social media to share their mirror image with the world. Scholz met with President Joe Biden as well as members of Congress, where he and Coons posed for the lighthearted image shared on their respective accounts on X, formerly Twitter. Scholz was in Washington to emphasize the stakes of the Ukraine conflict for the U.S., Europe and others. Russian President Vladimir Putin earlier this week repeated his claim that the February 2022 invasion was intended to protect his nation’s interests. “Without the support of United States, and without the support of the European states, Ukraine will have not a chance to defend its own country,” Scholz said.

Persons: Sen, Chris Coons, Olaf Scholz, Coons, Scholz, Joe Biden, ” Coons, ”, —, ” Scholz, Vladimir Putin Organizations: Washington , D.C, Delaware Democrat, Ukraine, Economic Locations: Washington ,, Russia, Davos, Switzerland, Washington, Ukraine, Europe, Russian, United States

☆ 6 Bodies Found at Burned Pennsylvania House Where 2 Officers Were Shot
▼ + stars: | 2024-02-09 | by ( Jesus Jiménez | ) www.nytimes.com time to read: +1 min

The remains of six family members have been recovered from a burned home in southeastern Pennsylvania, including those of a man who is believed to have shot two police officers on Wednesday, the authorities said on Friday. Jack Stollsteimer, the Delaware County district attorney, said at a news conference on Friday afternoon that the recovery of the bodies was “gruesome work” that had lasted into Friday. Mr. Stollsteimer said on Thursday that three adults and three children had been feared dead in a fiery episode that began on Wednesday afternoon when the police responded to a report that an 11-year-old girl had been shot at a home in East Lansdowne, Pa., just west of Philadelphia. When police officers arrived at the home, they were immediately met with gunfire, and two officers were injured, according to Mr. Stollsteimer. Some time after the officers were shot, the home burst into flames, and officials had to wait overnight for the fire to subside before they could begin recovering the bodies, Mr. Stollsteimer said.

Persons: Jack Stollsteimer, Stollsteimer Locations: Pennsylvania, Delaware County, East Lansdowne, Pa, Philadelphia

Classified documents were found in a damaged cardboard box in President Joe Biden's cluttered Delaware garage, near where golf clubs hung on the wall. Trump, on the other hand, is scheduled to stand trial on charges alleging he hoarded classified documents at his Florida estate and thwarted government efforts to get them back. At look at the similarities and differences between the Biden and Trump investigations:WHAT KINDS OF DOCUMENTS ARE WE TALKING ABOUT? Trump is accused of not only hoarding classified documents at Mar-a-Lago, but trying to hide them from investigators and working to block the government from clawing them back. “Most notably, after being given multiple chances to return classified documents and avoid prosecution, Mr. Trump allegedly did the opposite,” the report said.

Persons: Joe Biden's, Donald Trump's, Robert Hur, Biden, Trump, Jack Smith, ! ” Biden, Hur, Barack Obama, Obama, Investigators, ” TRUMP, HUR, BIDEN, “, —, Virginia —, It's, accidently, ”, Biden —, Walt Nauta, Carlos De Oliveira, ____ Richer Organizations: Maryland, Trump, Biden, BIDEN, FBI, Prosecutors, House, Mar, Penn Biden Center, University of Delaware, Justice Department Locations: Delaware, U.S, Florida, Afghanistan, Biden's Delaware, Mar, Virginia, willfulness, clawing, Bedminster, Lago, Boston

☆ The RNC is a mess now Ronna McDaniel is likely on her way out, and Trump holds all the cards
▼ + stars: | 2024-02-08 | by ( Kwan Wei Kevin Tan | Lloyd Lee | ) www.businessinsider.com time to read: +5 min

Ronna McDaniel offered to step down as RNC chair amid pressure from Donald Trump, per NYT. AdvertisementAn election denier could very well find themselves as the next Republican National Committee chair if Donald Trump gets his way. The former chairwoman of the Michigan Republican Party received Trump's support to take over as RNC chair in 2017. Under McDaniel, Trump also benefitted from the committee when it came to his legal troubles. Murray, Lindell said, "would be the best pick for the RNC chair."

Persons: Ronna McDaniel, Donald Trump, Trump, McDaniel, Mike Lindell, —, Letitia James, it's, Harmeet Dhillon, Lindell, Julianne Murray, Murray, Michael Whatley, Whatley, Joe Gruters, Gruters Organizations: Fox News, RNC, Service, Republican National Committee, The New York Times, Michigan Republican Party, CNN, New, Trump, Delaware Republican Party, Business, North Carolina Republican Party, New York Times, Times, Florida GOP, Miami Herald, Republican Party, The Associated Press Locations: South Carolina, Michigan, New York, Florida

☆ Tesla stock drops as investors scrutinize board’s close personal ties to Elon Musk
▼ + stars: | 2024-02-05 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

Ehrenpreis is also a close friend to Kimbal Musk, Elon’s brother, who is also a Tesla board member. In another instance, the judge emphasized the role of Tesla’s general counsel Todd Maron — who was previously Musk’s divorce lawyer — in advising Tesla’s board and compensation committee. Maron was “totally beholden to Musk,” McCormick wrote in her ruling last week, adding that Maron’s admiration for Musk “moved him to tears” during both his deposition and in trial testimony. Maron’s team prepared “an aggressive timeline for approving a compensation plan,” McCormick wrote in her more than 200-page ruling. The break-neck speed of the process “reflected a reckless approach to a fiduciary process.”Robyn Denholm, the Tesla board chair, doesn’t appear to have had any personal relationship with Musk outside of her service on the board, McCormick wrote.

Persons: New York CNN — Tesla, Elon Musk’s, Judge Kathaleen McCormick, Musk, Ira Ehrenpreis, Kimbal, Ehrenpreis, Antonio Gracias, McCormick, Tesla’s, Todd Maron —, —, Maron, “, ” McCormick, Musk “, Maron’s, Robyn Denholm, Denholm, can’t, ” Tesla, Tesla, Monday’s selloff, Piper Sandler, Gordon Johnson, ” Johnson, Elon, ” Organizations: New, New York CNN, Elon, The, Gracias, Nasdaq, GLJ, CNN Locations: New York, Delaware, Spain, Kimbal’s

☆ The Tesla shareholder who denied Musk his $55 billion payday is a former heavy metal drummer
▼ + stars: | 2024-02-02 | by ( Tom Carter | ) www.businessinsider.com time to read: +2 min

Richard Tornetta sued Tesla in 2018 over Elon Musk's $55 billion compensation plan. The Tesla shareholder is a former heavy metal drummer for the thrash-metal band Dawn of Correction. A Judge sided with Tornetta and struck down the pay package, calling it unfair to shareholders. AdvertisementThe Tesla shareholder who won a dramatic legal victory that denied Elon Musk his $55 billion compensation package used to be a heavy metal drummer. The EV maker will need to develop a new compensation plan for Musk, although it can appeal.

Persons: Richard Tornetta, Tesla, —, Elon Musk, of, Musk, Tornetta, Kimbal Organizations: Elon Musk's, Service, YouTube, Reuters, Business Locations: Delaware, Texas

☆ Tesla's board faces a 'tornado situation' after Elon Musk's $55 billion pay package was struck down, analysts say
▼ + stars: | 2024-02-02 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +3 min

Tesla's board is at a crossroads after a hefty pay plan for Elon Musk was rejected, analysts said. After the Delaware ruling, Musk announced a shareholder vote to move Tesla's incorporation to Texas. AdvertisementTesla's board has its work cut out for it following a judge's surprise ruling against Elon Musk's massive payday, analysts said. "It now creates a tornado situation for Tesla's Board in the next move, with [Wall] Street closely watching this poker move and potential statement," the report said. "Musk is Tesla and Tesla is Musk," Dan Ives, managing director at Wedbush, told Business Insider.

Persons: Elon Musk, Musk, —, Tesla, Kathaleen McCormick, Wedbush, Dan Ives, Ives Organizations: Elon, Tesla, Service, Wedbush Securities, Board, Company, Investors, Reuters Locations: Delaware, Texas, Tesla

☆ Elon Musk’s $50 Billion Tesla Pay Was Struck Down. What Happens Next?
▼ + stars: | 2024-01-31 | by ( Jack Ewing | Peter Eavis | ) www.nytimes.com time to read: +1 min

Tesla and Mr. Musk could appeal the court decision. Mr. Musk has also indicated that he might seek to incorporate the company in another state that he believes could be more hospitable to businesses, like Texas. What happens to Mr. Musk’s stock options? As part of a compensation package Tesla finalized in 2018, Mr. Musk received options to buy 304 million shares that are now worth more than $50 billion. While he has met the goals needed to receive those options, Mr. Musk does not appear to have converted them into shares of Tesla.

Persons: Elon, Kathaleen St, J . McCormick, Tesla, Musk Organizations: Tesla, Mr Locations: Delaware, Texas

☆ Why Elon Musk's battle with Delaware is about more than a $55 billion pay package
▼ + stars: | 2024-01-31 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +7 min

Musk's Tesla pay was structured without a salary to involve 12 stock option awards that would only be given once performance goals for each of them were met. Though Musk can appeal the decision, there are signs that this battle is about more than just the massive pay package that has propelled him to a $205 billion fortune. The carmaker is currently worth $600 billion, up from roughly $50 billion in 2018, when Musk received his pay plan. So it's reasonable to take Musk at face value when he says his Tesla pay, as McCormick put it, is a "means of bankrolling that mission." Closer to home, Musk's legal battle could trigger a rethink of where Corporate America goes to do business.

Persons: —, Elon, Thomas Jefferson, Tesla, Richard Tornetta —, Musk, Judge Kathaleen McCormick, Musk's Tesla, Chandan Khanna, …, Judge McCormick, McCormick, DealBook, that's Organizations: Service, The, The Diamond State, Business, SpaceX, Toyota, Delaware Inc, Corporate America Locations: Delaware, The Diamond, Tesla, Mars, America's, America, Nevada, Texas

☆ Here are Jim Cramer's rapid-fire takeaways on 6 stocks in the news Wednesday
▼ + stars: | 2024-01-31 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +2 min

Jim said, "I don't know if [CEO] Carol Tome can keep the job." The fact is, he added, e-commerce is very strong and "she's not participating in it." Walmart — Founder Sam Walton liked the idea that people shouldn't have to own fractional shares, Jim said, praising the retailer's 3-for-1 stock split . "Very smart move by Walmart" to entice the individual investor with a smaller share price, Jim added. General Motors — Shares on Wednesday added to their 7.8% gain in the prior session on a strong quarter and 2024 guidance.

Persons: Jim, Carol Tome, Sam Walton, Mary Barra, Dave Calhoun didn't, Calhoun, Ozempic, Eli Lilly, Lilly, Tesla, Elon Organizations: Parcel Service, Walmart, General Motors, GM, CNBC, Club, Ford Motor, Boeing, Novo Nordisk — Locations: Delaware

☆ Judge strikes down Elon Musk’s massive, multi-billion-dollar pay package
▼ + stars: | 2024-01-30 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —A Delaware state court judge has thrown out the 2018 pay package that helped to make Tesla CEO Elon Musk one of the richest people in the world. He said Tesla investors will benefit from the decision by having the “dilution from this gargantuan pay package erased.”Attorneys for Musk and the Tesla board argued the pay package was approved by a shareholder vote. Excluding the votes owned by Musk and his brother, 73% of the shares voting in that election supported the pay package. The company’s market cap was valued at $54 billion at the time the pay package was approved. Robyn Denholm, the chair of Tesla’s board, testified that the pay package was all about keeping Musk focused on Tesla.

Persons: Elon Musk, Chancellor Kathaleen McCormick, Musk, Tesla, “, ”, Greg Varallo, McCormick, ” Musk, Robyn Denholm, ” Denholm, – CNN’s Matt McFarland Organizations: New, New York CNN, Musk, Delaware Supreme, SpaceX, Twitter, Boring, Tesla Locations: New York, Delaware, . Delaware, Tesla

☆ Elon Musk’s Tesla Pay Package Is Voided by Judge
▼ + stars: | 2024-01-30 | by ( Jack Ewing | Peter Eavis | ) www.nytimes.com time to read: +1 min

Elon Musk, the chief executive of Tesla, suffered a stunning rebuke Tuesday when a Delaware judge voided the pay package that helped make him a billionaire many times over and the world’s wealthiest human being. In a decision that cast a harsh light on the behavior of Mr. Musk and Tesla’s board of directors, Chancellor Kathaleen St. J. McCormick of the Delaware Court of Chancery said the chief executive had effectively overseen his own compensation plan with the help of compliant board members. “The process leading to the approval of Musk’s compensation plan was deeply flawed,” the judge said. She ordered that the contract that gave Mr. Musk “the largest potential compensation plan in the history of public markets” be voided, and told parties in the case to work out how Mr. Musk would return excess pay. Some compensation experts said the decision would send a warning to other companies that awarded their top executives very large pay packages.

Persons: Elon Musk, Tesla, Chancellor Kathaleen St, J . McCormick, Musk Organizations: Chancery Locations: Delaware

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