Elon Musk has recently slammed the legal fees request presented by Tesla shareholder Richard Thornett’s lawyers as being "criminal." Notably, in January 2024, he contested the eye-popping $56 billion pay package granted by Tesla to its CEO in a US court. The details of this case are presented on the page of the billionaire's social media platform X.
Thus, three law organizations petitioned the Court of Chancery in Delaware for nearly $6 billion in legal fees, proposed to be settled in Tesla shares. According to the filing, the fee works out to an hourly rate of $288,888. "We recognize that the requested fee is unprecedented in terms of absolute size," they said. Musk, in turn, blasted the request as "criminal," posting on his X platform that "the lawyers who did nothing but damage Tesla want $6 billion."
The law firms are convinced that the company should compensate their fees as it has benefited from the fact that the court scrapped the compensation package for the head of Tesla. At the same time, the lawyers require paying fees in the form of electric car maker's stock.
Earlier, in January this year, a Delaware judge ruled that Elon Musk's record-breaking $56 billion Tesla pay package must be tossed. The lawsuit was filed by Tesla shareholder Richard Thornett, who claimed that the conditions for receiving payments were too simple for the head of the company.
