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EDITORIAL: Mr. Musk, the shareholders and the Delaware court question [Video]

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Corporate Business Marketing

So ends one high-profile national matter that gripped Wilmington — the Hunter Biden trial and so begins a new one. 

Elon Musk, the celebrity CEO of electric car company Tesla, space rocket company SpaceX and, as of 2022, the owner of social media site X (formerly known as Twitter) is back and he’s bringing Delaware in the spotlight once more.

On June 13, Tesla shareholders held its annual meeting, and the major topic of discussions is whether or not it should reinstate Musk’s $44.9 billion pay package. The board has voted in his favor, even though the issue still is likely to be settled in court.

And much like it was three years ago, Musks’ battle was kicked off by a Delaware Court of Chancery ruling. In January, Chancellor Kathaleen McCormick ruled on a five-year-old matter when shareholders sued Musk and the board of directors on breaching fiduciary duties. 

The shareholder’s lawyers successfully argued that the …

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