A Delaware judge’s decision to void Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk‘s $56 billion compensation package for a second time has ignited strong criticism from prominent technology leaders and investors, highlighting growing concerns about Delaware’s corporate governance framework.
What Happened: Cathie Wood, CEO of Ark Invest, condemned Delaware Chancery Court Judge Kathaleen McCormick‘s ruling, calling her an “activist judge” and arguing that shareholders’ voting rights were being undermined. The package had received overwhelming shareholder approval twice, most recently with 77% support in June 2023.
