Connect with us

Entertainment

What Elon Musk’s reinstated $139 billion pay package rally secures

Published

on

What Elon Musk’s reinstated 9 billion pay package rally secures


More than money: What Elon Musk’s reinstated $139 billion pay package rally secures

In a landmark reversal, the Delaware Supreme Court on Friday, December 19, restored the 2018 compensation package for Tesla CEO Elon Musk.

The deal is now valued around $139 billion. The decision overturns a 2024 lower court ruling that had nullified the pay plan as “unfathomable.”

With this decision, a year-long battle that started when a shareholder owning just nine Tesla shares challenged the package.

In her 2024 decision, Delaware Chancery Court Chancellor Kathaleen McCormick found Tesla’s board had failed to prove the massive award was fair to shareholders, citing conflicts of interest and a lack of full disclosure.

However, the state’s highest court disagreed, stating in a 49-page opinion that completely rescinding the package was “inequitable” and “leaves Musk uncompensated for his time and efforts over a period of six years.”

The 2018 package grants Musk stock options to buy about 304 million Tesla shares at a steep discount if the company hit ambitious financial and operational milestones (all of which company has achieved).

The legal fight had significant repercussions. Musk, incensed by initial voiding of his pay, launched a fierce campaign against Delaware’s corporate legal system, calling it hostile to business and urging companies to incorporate elsewhere.

Various high-profile firms such as Coinbase and Roblox, resultantly moved their legal homes to states such as Texas and Nevada.

Musk celebrated the ruling on his social media platform X (formerly Twitter), posting that he was “vindicated.”

In after-hours trading, Tesla shares were slightly up.

The reinstatement of the 2018 package comes just weeks after Tesla shareholders approved a new, even larger compensation plan for Musk in November.

That package could be worth up to $878 billion if the company meets extraordinary growth targets over the next decade.

Lawyers for the shareholder who originally challenged the 2018 deal said they were “considering our next steps” and remained “proud to have participated in the historic verdict below.”

The Supreme Court’s decision solidifies Musk’s position as the world’s richest person as this title is largely built on his Tesla and SpaceX holdings.  





Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Entertainment

‘The Odyssey’ director comments on Donald Trump’s controversial movies tarrifs

Published

on

‘The Odyssey’ director comments on Donald Trump’s controversial movies tarrifs


Christopher Nolan raises concerns amid President Trump’s movies taxes proposal

Oscar-winning director Christopher Nolan has shared his opinion about the controversial movies’ tariffs proposal.

Nolan, who is the newly elected president for the Directors Guild of America, commented on the matter while setting out priorities for the company.

US President has proposed 100% tax on films made outside of America.

“I don’t know how a tariff system would work”, said the Oppenheimer director.

While speaking with Variety, the 55-year-old filmmaker opened that there are more serious conversations that require much focus than the movies tariffs.

He said in a statement, “I will say that since President Trump has started bandying these ideas around, there’s a much more serious conversation from the studios about how to improve the situation in the United States – to be perfectly frank about it.”

The Dark Knight filmmaker emphasized on the incentives that will be lost and stressed upon the unemployment that will prevail in the country.

“If you look at the overall spending from the consumer on media, on entertainment, on our work, it’s extremely stable.

“But we’re looking at a 35 percent to 40 percent decline in employment for our members.”

Nolan raised these concerns after the filming of The Odyssey around the Mediterranean. 





Source link

Continue Reading

Entertainment

Keanu Reeves, Cameron Diaz open up about reuniting on-screen after 30 years

Published

on

Keanu Reeves, Cameron Diaz open up about reuniting on-screen after 30 years


Keanu Reeves, Cameron Diaz to star in new film ‘The Outcome’

Keanu Reeves and Cameron Diaz have reunited after almost three decades for a new film.

The iconic duo last shared screen in film Feeling Minnesota in 1996. 30 years later, the stars have teamed up to feature in a new project named The Outcome directed by Jonah Hill.

Cameron and Keanu appeared for the Apple TV press day, where the two were asked, “How does it feel like getting back together on-screen?”

Recalling her first movie with the John Wick actor, Diaz went all guilty and said, “That was my third film”, while referring to Reeves, she continued, “You forgot about that right. you don’t remember that, right?? You blocked it out of your memory?”

However, the 60-year-old actor thought that working her in Feeling Minnesota was fun.

“It was my third film. I was so green! It was terrible”, added the Back in Action actress.

When asked, “What do you remember the most about working together?” Keanu thought it was fun, while Cameron emphasized, “wait, what did I just say, let’s forget about it.”

The 53-year-old actress said, “We’ve known each other over the years so like to be able to come back to doing a movie together, it’s just like for me, I was very excited.”

The first look of The Outcome has been revealed by Apple TV, in which Reeves look younger than his age. The film is slated to release on April 10. 





Source link

Continue Reading

Entertainment

Channing Tatum prepares to undergo surgery after severe injury

Published

on

Channing Tatum prepares to undergo surgery after severe injury


Channing Tatum prepares to undergo surgery after severe injury

Channing Tatum offered his health update after severely injuring his shoulder.

Before going under the knife, the Magic Mike star took to his Instagram on Tuesday night, February 3.

He shared a black-and-white snapshot of himself wearing a hospital gown while laying on a bed in a medical office as he prepares to undergo surgery.

“Just another day. Another challenge,” the 45-year-old American actor and film producer captioned the single image.

“This one is gonna be hard,” he added before concluding, “But whatever. Let’s get it in.”

Moreover, giving more insights about his condition, the Blink Twice actor posted two images of his X-rays on his Instagram Stories.

“Separated shoulder,” he captioned one report, showing broken bones.

Channing Tatum prepares to undergo surgery after severe injury

The Step Up actor wrote “Screwed shoulder. Yay,” on the following update, featuring a screw in his shoulder.

It is pertinent to note that back in September, Tatum revealed that he got injured while filming the new Avengers: Doomsday movie.

Given his history, it’s unclear if the new medical procedure has anything to do with his previous injury.

On the work front Tatum’s latest movies as of early 2026 include the critically acclaimed dark thriller Josephine, which premiered at the 2025 Sundance Film Festival, and the 2025 crime drama Roofman, where he stars as Jeffrey Manchester.





Source link

Continue Reading

Trending