“Shark Tank” star Kevin O'Leary on Wednesday slammed a Delaware judge who blocked a record $56 billion compensation package for Tesla CEO Elon Musk.
Finance Minister Catherine St. Jude McCormick said Tuesday that the electric car company's board could not provide sufficient justification for the payment to Mr. Musk, who also owns the social media site X, formerly known as Twitter. It was ruled that there was no. O'Leary overturned the decision, citing Tesla's rising stock price. (Related: Kevin O'Leary reveals why clean energy stocks are plummeting)
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“I think this case should go to the Supreme Court,” the “Shark Tank” star told Fox Business host Larry Kudrow. “Remember, shareholders made 800x on this, they agreed to this package in the first place. He proved himself to be an extraordinary person. Yes, he is It's controversial, but think about what this guy has accomplished now from early in his career to mid-career. Nobody's done what he's done. No matter what he pursues, it's Why would we want a single judge to decide the value of everything he's done with the new Tesla robots, brain implants, SpaceX, or global space internet connectivity?Society? And what about shareholders?”
Tesla's stock price Wednesday's closing price was $187.29. The closing price on February 1, 2019 was $20.81. according to Go to Macrotrends.com.
“That's everything that's wrong with bureaucracy. So I'd love for him to give it a shot. It's not about the money. He's already very wealthy, so I think he wants to align himself with shareholders,” O'Leary said. continued. “That's all he did. He said, 'Don't give me cash, don't give me cash.' I will grow my business, and if you make money, I will make money too. ”
In January, the company recalled more than 200,000 vehicles due to a software flaw that could cause crashes.
“That's the essence of capitalism, and we should celebrate it, support it, and protect it,” O'Leary told Kudlow.
Tesla did not immediately respond to a request for comment from the Daily Caller News Foundation.
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