Elon Musk’s $56billion Tesla pay package was recently tossed out by a Delaware judge due to a lawsuit filed by a heavy metal drummer.
Per Reuters, Delaware judge Kathleen St. J. McCormick voided Musk’s Tesla pay package on Tuesday, January 30, after calling it “an unfathomable sum” and saying it was unfair to shareholders.
A 2018 lawsuit was brought against Musk by Richard Tornetta – a former heavy metal drummer who was part of the band Dawn of Correction and owned nine shares of Tesla at the time. He accused the tech billionaire of “improperly dictating negotiations around the gargantuan payment package” and claimed that “the board had acted without independence,” (per Newsweek).
In response to the judge’s ruling, Musk tweeted: “Never incorporate your company in the state of Delaware.”
Dawn Of Correction released their EP ‘Swingin’ the Chain’ and their debut album ‘Dead Hand Control’ before breaking up in 2008. Speaking about his biggest influences in a interview with Metal Underground back in 2006, Tornetta said, “Mike Portnoy is the biggest. Another biggie is Dave Weckl and definitely Vinnie Paul.”
Never incorporate your company in the state of Delaware
— Elon Musk (@elonmusk) January 30, 2024
Tornetta currently focuses on industrial design and has described himself as a “marketer, inventor, custom fabricator, car guy, family man, and drummer. I designed and built an illuminated headpiece for onstage drumming performances. That’s a fancy way of saying I made a mohawk that lights up while I’m playing drums,” on one of his profile pages (per Consequence Of Sound).
In other Elon Musk news, John Oliver recently described Musk as having a “thin skin” in response to comments he made about the comedian on social media.
Asked by TMZ why he thinks Musk has singled him out, the comedian replied: “You’re going to have to track him down and ask him. I don’t know, that’s a thin skin.
“I cannot possibly pretend what’s in that man’s mind at any time. He seems wounded. He’s definitely sensitive, that’s a biological fact.”
Robert Johnson is a UK-based business writer specializing in finance and entrepreneurship. With an eye for market trends and a keen interest in the corporate world, he offers readers valuable insights into business developments.
