They still can’t pay $56 billion

STORY: Elon Musk Still Can’t Get His $56 Billion Pay Package.

A Delaware judge decided this on Monday.

The case is about the largest compensation package ever received by a US public company.

This also comes after Musk became a close adviser to President-elect Donald Trump and was tasked with helping cut red tape in the US government.

The same judge, Chancellor Kathaleen McCormick, in January found Tesla’s $56 billion pay package excessive and overturned it.

In June, Tesla shareholders voted to reinstate Musk’s compensation.

The automaker has said in court filings that McCormick should honor the vote.

But its 101-page statement on Monday said a ratification vote like Tesla’s in June must be held before the trial.

And that Tesla’s board did not have the authority to hit “reset” to restore Musk’s pay package.

Many small investors and Musk fans promptly criticized the decision on social media.

While Tesla said it would appeal.

McCormick also blocked the lawyers who brought the case from receiving the $6 billion in fees they sought.

Instead, it ordered Tesla to pay lawyers $345 million – still one of the largest awards ever in securities litigation.

The amount of Musk’s pay package has actually increased in tandem with Tesla shares, which have soared since Trump was elected to office.

His compensation is currently around $101 billion.