Elon Musk loses $56 bn pay package in legal battle led by former heavy metal drummer
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Tesla CEO Elon Musk lost his $56 billion pay package in a significant legal defeat brought forth by Richard Tornetta, a former heavy metal drummer. Tornetta, who held just nine shares of Tesla, initiated the lawsuit in 2018 and emerged victorious when a judge deemed the pay deal unfair to him and all fellow Tesla shareholders. This case represents a noteworthy legal challenge for Musk, who had previously triumphed in various trials. Critics argue that cases initiated by individual investors may lead to potentially abusive litigation, while experts argue that individuals like Tornetta play a vital role in overseeing boardrooms.

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https://www.wionews.com/business-economy/elon-musk-loses-56-bn-pay-package-in-legal-battle-led-by-former-heavy-metal-drummer-686281