Elon Musk Tesla

Elon Musk, already the world's richest man, scored another huge windfall Friday when the Delaware Supreme Court reversed a decision that deprived him of a USD55 billion pay package that Tesla doled out in 2018 as an incentive for its CEO to steer the automaker to new heights. Besides padding Musk's current fortune of USD 679 billion, the restoration of the 2018 pay package vindicates his long-held belief that the Delaware legal system had overstepped its bounds in January 2024 when Chancellor Kathaleen St Jude McCormick rescinded the compensation in a case brought by a disgruntled Tesla shareholder. Tesla didn't immediately respond to a request for comment late Friday. McCormick's ruling so incensed Musk that it spurred him to spurn Delaware and reincorporate Tesla in Texas. That decision also caused Tesla's board to scramble for ways to keep its CEO happy, including a successful effort to persuade the company's shareholders to reaffirm the pay package, which was valued at USD 44.9

The latest figure would be a substantial increase from the $212 a share set in July, when the company raised money and sold shares at a valuation of $400 billion

The nonbinding measure garnered 1.06 billion votes in favor of authorisation, exceeding the 916.3 million that were against, Tesla disclosed in a late Friday regulatory filing

Tesla's chief has a set of benchmarks to meet to earn his full payout, which includes growing the company's market value to expanding the robotaxi business

The plan won over 75 per cent support at Tesla's annual meeting in Austin, Texas, as investors endorsed Musk's vision of turning Tesla into an AI and robotics powerhouse

As Musk seeks unprecedented control over Tesla, a shareholder vote will decide whether vision trumps checks and balances

Elon Musk highlighted Tesla's Q3 AI and robot projects and his trillion-dollar pay plan, but gave few details on reviving EV sales after a 40 per cent profit drop

Federal auto safety regulators opened an investigation Tuesday into possible defects in Tesla doors that have reportedly left parents with children trapped in the back seat and forced to break windows to get them out. The National Highway Traffic Safety Administration said the preliminary probe is focused on 2021 Tesla Model Ys after receiving nine reports of electronic door handles not working possibly due to low battery voltage. The company run by billionaire Elon Musk has installed manual door releases inside the vehicles but NHTSA noted that a child may not be able to reach or know how to operate the releases. In four cases, the parents had to break the windows to get inside. The investigation into Tesla's most popular model comes after numerous reported incidents in recent years of other problems with opening Tesla doors, sometime trapping drivers in burning vehicles after accidents and a loss of power. In April, a college basketball recruit said he was fighting time trying to

Elon Musk's net worth has rebounded to around $430 billion after a rocky year of political controversies, Tesla stock swings, and a public falling-out with US President Donald Trump

Elon Musk first became the world's richest person in 2021, briefly lost the spot to Amazon founder Jeff Bezos and LVMH chairman Bernard Arnault, then reclaimed the title last year

Oracle co-founder Ellison's current total net worth stands at $393 billion, surpassing Tesla chief Elon Musk, whose fortune totals around $385 billion, according to the Bloomberg Billionaires Index

The surge in Ellison's net worth came shortly after the company announced its quarterly results, pushing it to an estimated $364 billion

Tesla has proposed a $1-trillion performance award for Elon Musk, granting him 12% of shares if the company's market cap hits $8.5 trillion and key milestones are met

Registrations of new Tesla cars in France were down 47.3% in August from August 2024, while the overall car market grew nearly 2.2%, data showed on Monday

Tesla to open its first NCR showroom in Delhi's Aerocity, marking its second India outlet in a month; Model Y will be on display and sale

The team has lost about 20 workers recently to newly formed DensityAI, and remaining Dojo workers are being reassigned to other data center and compute projects within Tesla

The move follows a 2024 ruling by a Delaware court that invalidated Musk's 2018 compensation package-worth more than $50 billion-on the grounds that the Tesla board's approval process was flawed

Elon Musk may have tumbled from political grace in Washington, DC, but as he seeks to build a new political party, his power on X where he commands the most popular account remains unchecked. Musk is a kingmaker on the platform he acquired in 2022 for USD 44 billion. He has used his influence to cultivate hard-right politicians and insurgent activists across Europe. A retweet or reply from Musk can lead to millions of views and tens of thousands of new followers, according to an Associated Press analysis of public data. That fact has not been lost on influencers who have tagged Musk persistently, seeking a reply or a retweet. It has also fuelled concerns in Europe about foreign meddling -- not from Russia or China, but from the United States. Every alarm bell needs to ring, Christel Schaldemose, a vice president of the European Parliament who works on electoral interference and digital regulation, told AP. The Associated Press analysed more than 20,000 posts, which were compiled

LGES announced earlier on Wednesday that it had signed a $4.3 billion contract to supply LFP batteries over three years globally

On Saturday, Samsung announced a $16.5 billion chip supply deal with a major global company, without naming the client