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Musk Says $50 Billion Tesla Pay Package Is Justified by EV Maker’s Surge

  • Trial set for suit alleging his compensation was ‘excessive’
  • Shareholder claims conflict of interest in board decision
Elon Musk

Elon Musk

Photographer: Al Drago/Bloomberg

Tesla Inc.’s decision to give Chief Executive Officer Elon Musk a pay package that could be worth more than $50 billion wasn’t excessive given the electric-car maker’s stratospheric rise in value over the last decade, his lawyers said in a court filing. 

Musk, the world’s richest person, must face a Delaware judge at a trial Nov. 14 to counter accusations he steamrolled Tesla directors in 2018 to award him what may turn out to be one of the corporate world’s biggest pay deals ever.