The lawyers who won a Delaware ruling voiding Elon Musk’s $56 billion compensation are demanding a nearly $6 billion award in the carmaker’s stock.
Attorneys who successfully argued that Tesla CEO Elon Musk’s $56 billion pay package was excessive are demanding a Delaware judge award them nearly $6 billion.
If granted, the legal eagles’ jaw-dropping payday — which they are asking to be paid in the electric car-maker’s stock — would shatter previous records for attorneys fees.
“We recognize that the requested fee is unprecedented in terms of absolute size,” the three law firms said in a filing in Delaware’s Court of Chancery requesting the fee.
The proposed fee translates to an hourly rate of $288,888, they noted.
Elon Musk slammed the attorneys’ proposed award as “criminal,” writing on his social media platform X that the “lawyers who did nothing but damage Tesla want $6 billion.”
The legal team represented Tesla stockholder Richard Tornetta, a onetime drummer for Philadelphia-based thrash band Dawn of Correction, who in 2018 sued Musk over his princely pay package.
