A court rejected Elon Musk’s $55.8B pay package. What is he worth to Tesla?

A judge in Delaware on Tuesday struck down the package that Tesla established for Musk in 2018, ruling that the process was “flawed” and the price “unfair.” Chancellor Kathaleen St. Jude McCormick called the package “the largest potential compensation opportunity ever observed in public markets by multiple orders of magnitude.” McCormick’s ruling bumped Musk out of the top spot on the Forbes list of wealthiest people. The magazine on Wednesday lopped $25 billion off his net worth, reducing it to $185.3 billion, putting him behind fashion and cosmetics magnate Bernard Arnault and family.