Decision from state supreme court on deal once worth $56bn overturns ruling that prompted angry Musk backlash
The Delaware Supreme Court has reinstated Elon Musk's $56 billion Tesla pay package from 2018, overturning last year's ruling by the state's Chancery Court, according to an opinion published Friday.
Elon Musk's 2018 pay package from Tesla, once worth $56 billion, was restored by the Delaware Supreme Court on Friday, two years after a lower court struck down the compensation deal as "unfathomable."
TSLA's Model Y and Model 3 dominate UK EV sales, outselling rivals by a wide margin, even as market share slips and full-year volumes trail 2024.
Tesla stock (NASDAQ: TSLA) came under pressure on Friday, plunging over 1% after volatility spread through the broader artificial intelligence space. The stock has alternated between gains and losses this week, with investors reassessing growth expectations amid competition from global rivals and execution risks around robotaxi deployment.
Tesla (NASDAQ: TSLA) has been popping this week, making headlines with new all-time highs and bullish Robotaxi developments.
Elon Musk's net worth hits $681 billion, more than double Google co-founder Larry Page's $249 billion wealth, as Tesla's stock surge widens the billionaire gap.
Since my last writing, Tesla, Inc.'s P/E ratio further elevated to 280+ and reported substantial stock-based compensation, or SBC. TSLA's SBC has surged by more than tenfold in the past 10 years to $2.45 billion TTM, whose magnitude is now about half of its GAAP net income. Despite of the dilution of SBC and high P/E, TSLA's decreasing reliance on carbon credits and improving operating fundamentals help to keep risk profile balanced.
Tesla (NASDAQ:TSLA) continues to be a key player in the AI market with a market capitalization of $1.6 trillion, even though its primary electric vehicle division has seen stagnation. Conversely, the EV challenger Rivian Automotive (NASDAQ:RIVN) is starting to emerge as a more compelling opportunity.
Tesla Inc.'s (NASDAQ: TSLA) share price is up 4.5% from a week ago.
U.S. sales have fallen further from their 2022 peak, and Elon Musk has already told investors to brace for a “few rough quarters.”
Elon Musk says the future is autonomous. Investors appear to be on board.