Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Sheikh Qassem: We, our allies, the honorable in our nation, our people, and our army will never accept being subservient to the US or 'Israel'
Sheikh Qassem: They must despair, for whatever they do, this people cannot be defeated or broken, and we shall neither fall nor yield
Sheikh Qassem: Threats neither advance nor delay matters, yet the possibility of war exists, and the possibility of war or its absence exists because 'Israel' and the US are weighing their options
Sheikh Qassem: All these threats are simply a form of political pressure after a whole year of efforts proved ineffective
Sheikh Qassem: 'Israel's' 'servants' in Lebanon are few, but they cause problems by obstructing the country’s stability, growth, and liberation alongside the US and 'Israel'
Sheikh Qassem: Weapons block 'Israel’s' project, and anyone seeking disarmament plays into 'Israel’s' hands
Sheikh Qassem: The agreement came because we held fast, empowered by our vision, our faith, our will, our people, our patriotism, and our unwavering attachment to our land
Sheikh Qassem: People of Might Battle was a confrontation by a modest force, incomparable to the enemy's strength, but it was noble in spirit, brimming with courage, resolve, and unwavering faith in victory
Sheikh Qassem: Today, Lebanon is under an Israeli aerial occupation
Sheikh Qassem: The project of "Israel" came crashing into the defenses of the People of Might Battle

Musk in court over $56 billion pay package from Tesla in 2018

  • By Al Mayadeen English
  • Source: Agencies
  • 17 Nov 2022 11:56
3 Min Read

Tesla shareholder Richard Tornetta is accusing Tesla's CEO Elon Musk that he used his influence over Tesla's board of directors to be granted a huge sum of compensation while he is not devoting his full time to the company.

  • x
  • musk
    Elon Musk, Tesla’s chief executive, leaving the Delaware Court of Chancery in Wilmington last year.

American billionaire and currently the richest man on earth, Elon Musk, appeared in front of a Delaware court on Wednesday, for the second time since 2021, to defend his $56 billion compensation package he got in 2018, following a lawsuit by Tesla shareholder Richard Tornetta.

Tornetta accuses Tesla CEO of influencing the board of directors to receive the huge pay package while only acting as a "part-time CEO" as the suit mentions that Musk was not devoting his time to Tesla as he runs several companies at once, and has thus asked the court to rescind the package.

Read more: Twitter to do 'lots of dumb things' in coming months: Musk

The shareholder's attorney, Gregory Varallo, attempted during the hearing to prove that Musk was rewarded the massive sum of money unjustly while accusing the board of directors that they have failed to work in the best interest of the company's shareholders.

"The amount of pain, no words can express," Musk said in response to the attorney's claims that he received the package only through his dominance over the members of the board.

Read more: Twitter becomes 'Musk Mania' as he fires execs and takes over

"It’s pain I would not wish to inflict upon anyone," Musk added referring to his effort that pulled the company from bankruptcy in 2017.

The lawyer attempted to show that Musk took the decision without going back to Tesla's board repeatedly.

Musk admitted that he terminated the company's acceptance of bitcoin as a payment without informing the board of directors.

However, the testimony was not able to prove whether Musk demanded the compensation package or it followed negotiations with the board.

The lawyer held up a Twitter image to display in front of the courtroom attendees where Musk is suggesting that Tesla is his wife while Twitter is his new mistress.

Musk announced this week in a Tweet that he will be staying in Twitter's HQ in San Francisco 24/7 until the company's issues are resolved.

Read more: Musk launches new perfume to fund Twitter purchase

The billionaire stressed that his constant presence there is only temporary during the launching process as he wants to "reorganize the company" and that the "fundamental restructuring" will be over soon and then he will assign someone else to run the media platform.

Varallo also brought up that Musk was using Tesla employees to work on his Twitter project.

The CEO of Starlink and SpaceX responded that it was "voluntary, after-hours and short-term basis."

Read more: Twitter fires more than 90% of India staff, leaving just a dozen

  • lawsuit
  • SpaceX
  • Tesla
  • Elon Musk
  • Twitter
  • Starlink

Most Read

Hezbollah announces the martyrdom of Haitham al-Tabatabai

Hezbollah announces the martyrdom of commander Haitham Tabatabai

  • West Asia
  • 23 Nov 2025
A boy tries to stand near missiles displayed in the National Aerospace Park of the Revolutionary Guard, just outside Tehran, Iran, Thursday, Nov. 13, 2025 (AP)

Key Israeli sites destroyed, nuclear docs moved to Tehran: Minister

  • Politics
  • 22 Nov 2025
13 elite Israeli troops were wounded in a confrontations in Beit Jinn, Syria.

13 elite Israeli troops wounded in confrontations in southern Syria

  • West Asia
  • Today
Hezbollah publishes biography of martyred leader Haitham al-Tabatabai

Hezbollah publishes biography of martyred leader Haitham Tabatabai

  • Politics
  • 23 Nov 2025

Coverage

All
In Five

Read Next

All
AI weaponized: 'Israel' scrubs soldiers’ posts to hide atrocities
Technology

AI weaponized: 'Israel' scrubs soldiers’ posts to hide atrocities

z
Politics

Petro: Oil is key to US pressure on Venezuela, not drug trade

The Lafarge cement plant facility is seen Tuesday, October 18, 2022, in Ravena, N.Y. (AP Photo/Hans Pennink)
Politics

Lafarge trial focuses on talks with Syrian armed groups, ISIS links

Denmark sets up Trump ‘night watch’ after Greenland tensions flare
Politics

Denmark sets up Trump ‘night watch’ after Greenland tensions flare

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS