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Thursday, March 23, 2023

Elon Musk testified in court about bonus of more than 50 billion euros

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Elon Musk testified in court – Tesla CEO Elon Musk testified this week in a case about a bonus of no less than 56 billion dollars (54 billion euros) that he received four years ago. The case was brought by a Tesla shareholder, who believes that the bonus was handed out very easily.

Elon Musk testified in court

In 2018, Musk, the richest person on earth, was awarded the fee. He got the bonus because he would have achieved certain goals. But according to shareholder Richard Tornetta, it was not that difficult to achieve the goals. According to him, a bonus of tens of billions was not appropriate.

He suspects that Musk pressured the other Tesla board members to agree to the bonus. The CEO is not only the highest executive of the car company, but also owns a significant part of the shares.

The CEO’s lawyers point out that the stock market value of the company has risen very fast due to Musk’s policy: from 50 to more than 600 billion dollars. According to them, this is an extraordinary achievement and the remuneration was therefore appropriate.

Total savings balance grows to over 420 billion euros

The case started on Monday and Wednesday was the first day Musk appeared in court. In recent days, videos of the CEO have already been shown, who is currently in the spotlight because of his chaotic takeover of Twitter.

The billionaire is known to be very critical of lawyers who ask difficult questions. For example, in previous court cases he accused a lawyer of extortion and called another lawyer a bad person.


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Elon Musk testified in court

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