News
Tesla CEO Elon Musk denied $56bn pay package once again by Delaware judge
Tesla CEO Elon Musk was once again denied the $56 billion pay package by Delaware Chancellor Kathaleen McCormick, who previously ruled the sum should not be paid to Musk.
Tesla shareholders voted after the initial rejection of the massive pay package that was awarded to Musk for achieving several tranches related to company growth to award the CEO with the money.
McCormick once again denied the pay package. This comes 11 months after the first rejection, which occurred in January.
Tesla CEO Elon Musk’s $56bn pay package decision to come before end of year
The pay package was challenged by shareholder Richard J. Tornetta, who owned only a handful of Tesla shares. McCormick ruled in January that Musk’s “unfathomable sum” was unfair to shareholders.
However, it appears the weight of one shareholder and one chancellor outweighs that of a majority of Tesla shareholders who voted overwhelmingly this past Summer to award Musk the money once again.
However, on Monday, Chancellor McCormick once again said Musk should not be awarded the sum.
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Tesla responded:
“A Delaware judge just overruled a supermajority of shareholders who own Tesla and who voted twice to pay @elonmusk what he’s worth. This ruling, if not overturned, means that judges and plaintiffs’ lawyers run Delaware.”
Perhaps what is most baffling about the ruling by McCormick is the fact that Tesla will be forced to pay $345 million in fees to lawyers who represented Tornetta and other shareholders. The lawyers, at one time, requested more than $5.5 billion from the case, and they wanted it in the form of Tesla stock.
Those lawyers said in a statement (via The New York Times):
“We hope that the chancellor’s well-reasoned decision will end this matter for the shareholders of Tesla.”
They also said that they are looking forward to defending the judgment if Tesla decides to appeal. The company said it will be appealing McCormick’s decision.
Vivek Ramaswamy calls Elon Musk’s Tesla pay package situation ‘a threat to capitalism’
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It also seems Chancellor McCormick did not believe the shareholder vote and subsequent board vote were not a reasonable way to reinstate the pay package.
She said:
“Were the court to condone the practice of allowing defeated parties to create new facts for the purpose of revising judgments, lawsuits would become interminable.”
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Elon Musk continues to tease the unveiling event for the Tesla Roadster, a continuing trend that has grown into a bigger game of “When” for fans who have been waiting years for the car to finally enter production.
A video shared on X of the Joe Rogan Experience podcast that Musk appeared on last year, teasing the Roadster unveiling, was shared once again on the social media platform. The poster said the Roadster event will be “unforgettable.”
Musk agreed:
Yes
— Elon Musk (@elonmusk) August 12, 2026
The timing is interesting because just yesterday, Musk said that we will be getting flying cars, and for years, Tesla has hinted that it could develop a SpaceX cold gas thruster package that would help the car float or fly for a short period of time.
It would be reasonable to assume Tesla’s major delays with this unveiling event are likely caused by the company’s need to break the rules and push the envelope on nearly everything. Last July, Lars Moravy, Tesla’s VP of Vehicle Engineering, said:
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“Roadster is definitely in development. We did talk about it last Sunday night. We are gearing up for a super cool demo. It’s going to be mind blowing. We showed Elon some cool demos last week of the tech we’ve been working on and he got a little excited.”
The latest updates that Tesla has given us are that the Roadster is in design development, and it did have several potential dates for an unveiling event this year, including April. It was then pushed to August.
However, there are no clues as to when Tesla will be ready, and fans are certainly getting frustrated with the delays.
For what it is worth, Franz von Holzhausen told Jay Leno this week that the event would be “very soon.”
We sure hope.
Lifestyle
Tesla’s driverless Cybercab just passed a big test with State Governor
Florida’s governor rode Tesla’s Cybercab at a closed test track and called the experience impressive.
Florida Governor Ron DeSantis rode in a Tesla Cybercab on a closed test track this week and came away impressed, posting on X that the vehicle “successfully navigated all hazards — a kid running into the street, a crash with police stopping traffic, a Model S cutting us off, etc.” He called the ride “impressive.”
The stop was part of a broader event Monday at SunTrax, a 775 acre state owned proving ground in Auburndale that Florida built specifically to test autonomous and connected vehicles before they reach public roads. Standing next to a gold Cybercab, DeSantis described the car in plain terms: “You go in there and you just sit. You have a screen. There’s no steering wheel, no pedals. Clearly these things could be very beneficial.”
We took a ride on a robotaxi on the Suntrax course and it successfully navigated all hazards — a kid running into the street, a crash with police stopping traffic, a Model S cutting us off, etc.
Impressive! https://t.co/FVAkzFLz3r
— Ron DeSantis (@RonDeSantis) August 11, 2026
DeSantis paired the praise with a caveat that has followed autonomous vehicles since the category existed. “You don’t want to be in an autonomous vehicle and it drives you into a ditch. That would not be good,” he said, framing safety validation as the gate before wider deployment.
SunTrax, the 2.25 mile oval which the state calls the only high speed autonomous vehicle test track in the Southeast, can simulate rain, pedestrian crossings, hills and crowded urban conditions at highway speeds, letting companies push a car past what an early public rollout would risk. Tesla, Waymo and Beep all use the facility, and Florida’s regulatory approach, among the most permissive for autonomous vehicles in the country, doesn’t require a human operator inside a fully autonomous car.
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Tesla has reason to want the blessing of Florida and states beyond, as the Cybercab entered volume production at Gigafactory Texas this spring and has since self certified as SAE Level 4 under Texas law. Public road testing so far has kept a safety monitor in the passenger seat, and Florida is where Tesla has been expanding its existing Model Y based Robotaxi service instead, adding Miami in July and then Orlando and Tampa two weeks later. A closed track endorsement from a sitting governor doesn’t change any of that, but it does put Tesla’s newest hardware in front of a state that has already shown it will move fast on rules.
Sweden’s IF Metall union has announced that it is ending all protests against Tesla, effective immediately.
The union said in a statement this morning:
“There seems to be no limits to the length Tesla would go to keep unions out of their operations. Unfortunately, they have managed to pay their way out in Sweden. At least that has given the former IF Metall members more money in their pocket, but the insecurity of not having a union or a collective agreement still remains.”
IF Metall has been after Tesla in Sweden for the past three years, attempting to push unionized operations into its factories. Tesla, on the other hand, has given its employees the chance to unionize in various markets. However, the organization says that Tesla has “bought out all of its striking members.”
🚨 NEW: IF Metall has decided to end all industrial action against Tesla in Sweden, effective immediately.
“IF Metall has decided to end all industrial action against Tesla’s Swedish operations, after the company bought out all of its striking members. With no members remaining… pic.twitter.com/blne8iC6hV
— TESLARATI (@Teslarati) August 13, 2026
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“Today, we end our industrial action against Tesla. We do so because it can no longer have an effect – not because our principles have changed,” a written statement said.
Over the past three years, IF Metall has definitely been a thorn in the side of Tesla and its operations in Sweden. The primary strike started in October 2023, when IF Metall members at Tesla’s Swedish Service Centers refused to work.
IF Metall chair to Elon Musk: “Give us a chance” as Tesla Sweden strike hits 2 years
Strikes extended to blockades and work stoppages at non-Tesla-owned repair shops that service Teslas. This limited and stopped anything related to warranties, transport damage, and other work on Teslas ending, eliminating work arounds for customers.
Sympathy strikes followed, as postal workers, dock workers, electricians, and other tradesmen stopped working. Add in lawsuits and other pressures, and you get the full scope of what strategies the union has used against Tesla over the past several years.
But now, it’s all over.
“We will continue to defend the right of workers to organize. We will continue to fight for collective bargaining. And we will continue to stand in solidarity with workers and trade unions facing similar challenges elsewhere – just as you have stood with us,” IF Metall said.
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Elon Musk teases Tesla Roadster unveiling once again
Tesla’s driverless Cybercab just passed a big test with State Governor
