New York — Elon Musk says he wants a significantly larger stake in Tesla than the one that already made him the richest person on the planet. Musk and the Tesla board of directors were accused of breaching their fiduciary duties for waste and unjust enrichment. Musk on Monday said he and Tesla are waiting for ruling in the case before they agree to a new pay package. “The reason for no new ‘compensation plan’ is that we are still waiting for a decision in my Delaware compensation case.”Musk then said he put “compensation plan” in quotes because he is mainly concerned about the amount of ownership he holds. But Musk said a dual-class system at Tesla was a nonstarter, blaming a “post-IPO Delaware.” It’s unclear exactly what Musk meant by that.

Source: CNN January 16, 2024 14:01 UTC