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Tesla Board Gives Musk Another HUGE Pay Day of $29BIL of Shares
Tesla Ordered to Pay $243 MIL in Punitive Damages Over FATAL Florida Crash
Jurys order for Tesla to pay $243 million in Autopilot crash will send shock waves throughout the industry AP 3 AUG 2025 https://fortune.com/img-assets/wp-co...pg?w=1440&q=90 Dillon Angulo, who was seriously injured in a Florida crash involving Teslas Autopilot driver assist technology, speaks to reporters outside the federal courthouse in Miami A Miami jury decided that Elon Musks car company Tesla was partly responsible for a deadly crash in Florida involving its Autopilot driver assist technology and must pay the victims more than $240 million in damages. The federal jury held that Tesla bore significant responsibility because its technology failed and that not all the blame can be put on a reckless driver, even one who admitted he was distracted by his cellphone before hitting a young couple out gazing at the stars. The decision comes as Musk seeks to convince Americans his cars are safe enough to drive on their own as he plans to roll out a driverless taxi service in several cities in the coming months. The decision ends a four year long case remarkable not just in its outcome but that it even made it to trial. Many similar cases against Tesla have been dismissed and, when that didnt happen, settled by the company to avoid the spotlight of a trial. This will open the floodgates, said Miguel Custodio, a car crash lawyer not involved in the Tesla case. It will embolden a lot of people to come to court. The case also included startling charges by lawyers for the family of the deceased, 22 year old, Naibel Benavides Leon, and for her injured boyfriend, Dillon Angulo. They claimed Tesla either hid or lost key evidence, including data and video recorded seconds before the accident. Tesla said it made a mistake after being shown the evidence and honestly hadnt thought it was there. Tesla has previously faced criticism that it is slow to cough up crucial data by relatives of other victims in Tesla crashes, accusations that the car company has denied. In this case, the plaintiffs showed Tesla had the evidence all along, despite its repeated denials, by hiring a forensic data expert who dug it up. Todays verdict is wrong, Tesla said in a statement, and only works to set back automotive safety and jeopardize Teslas and the entire industrys efforts to develop and implement lifesaving technology. They said the plaintiffs concocted a story blaming the car when the driver from day one admitted and accepted responsibility. In addition to a punitive award of $200 million, the jury said Tesla must also pay $43 million of a total $129 million in compensatory damages for the crash, bringing the total borne by the company to $243 million. https://www.youtube.com/watch?v=VUQOUDanorE |
Tesla Ordered to Pay $243 MIL Involving Autopilot Tech, Over FATAL Florida Crash
Tesla Board Gives Musk Another HUGE Pay Day of $29BILLION
Tesla Board Awards $29BIL of Shares to Elon Musk Chief executive will pay $2BIL to buy stock in the carmaker at 2018 price even AFTER court rules against pay deal The Guardian 5 AUG 2025 https://i.guim.co.uk/img/media/83ff9...none&crop=none Teslas board has approved the award of $29BIL worth of shares to its chief executive, Elon Musk, after a US court ruled against a previous pay deal for the worlds richest person. Musk will pay $2BIL to buy 96 shares in the electric carmaker at the same price per share as a 10 year pay package agreed in 2018, which is stuck in legal limbo awaiting a court date for an appeal. The award was based on a recommendation from a special committee of the board. The announcement in a financial filing was accompanied by a shareholder letter from two members of the committee, Robyn Denholm, Teslas chair, and Kathleen Wilson Thompson. It described the award as a good faith payment to Musk after the previous pay deal, worth $56bn, was rescinded in 2024 by a judge in Delaware, where the company was incorporated until June that year. To recognise what Elon has accomplished and the extraordinary value he delivered to Tesla and our shareholders, we believe we must take action to honour the bargain that was struck in 2018, the directors wrote. After all, a deal is a deal From communications, we know that top concerns is keeping Elons energies focused on Tesla, they wrote. This award is a critical first step toward achieving that goal. As well as running Tesla, Musk also owns the SpaceX rocket company, the social media platform X, the artificial intelligence company xAI and the brain implant business Neuralink. He has also made forays into Republican politics, damaging the Tesla brand and sales and raising concerns among shareholders. |
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