A Delaware Chancery Court judge today has voided Elon Musk’s 2018 Tesla pay package, siding with shareholders who sued the board over the compensation agreement, calling it “the largest in human history.”
Chancellor Kathaleen Mccormick is same judge who shepherded months of contentious discovery in the billionaire’s legal battle with Twitter, now X.
The pay case went to trial in November.
“The process leading to the approval of Musk’s compensation plan was deeply flawed,” Chancellor McCormick said in her decision, and ordered the contract be voided.
“Never incorporate your company in the state of Delaware,” said Musk on X after the ruling.
Never incorporate your company in the state of Delaware
— Elon Musk (@elonmusk) January 30, 2024
The Tesla stockholder who brought the suit, Richard Tornetta – “individually and on behalf of all others similarly situated,” sued board members James Murdoch, Robyn Denholm, Antonio Gracias, Linda Johnson Rice, Brad Buss, Ira...
Chancellor Kathaleen Mccormick is same judge who shepherded months of contentious discovery in the billionaire’s legal battle with Twitter, now X.
The pay case went to trial in November.
“The process leading to the approval of Musk’s compensation plan was deeply flawed,” Chancellor McCormick said in her decision, and ordered the contract be voided.
“Never incorporate your company in the state of Delaware,” said Musk on X after the ruling.
Never incorporate your company in the state of Delaware
— Elon Musk (@elonmusk) January 30, 2024
The Tesla stockholder who brought the suit, Richard Tornetta – “individually and on behalf of all others similarly situated,” sued board members James Murdoch, Robyn Denholm, Antonio Gracias, Linda Johnson Rice, Brad Buss, Ira...
- 1/30/2024
- by Jill Goldsmith
- Deadline Film + TV
Elon Musk and his team denied claims from executives at Tesla and SpaceX that Musk’s erratic behavior as of late has led them to believe that he might be using illegal drugs.
Alex Spiro, Musk’s lawyer, denied the charges.
According to a report in the Wall Street Journal, board members at Tesla and SpaceX are concerned with possible drug use because it could inhibit Musk from doing his job and carrying out his leadership roles at the companies. The report suggested that many believe that Musk is using ketamine, a drug that is popular with technology executives.
Controversy surrounding Musk and drug use sparked with his use of marijuana while live on Joe Rogan‘s podcast in 2018.
Musk revealed that he suffered from a non-diagnosed bipolar disorder and Asperger’s syndrome and had been prescribed ketamine as an antidepressant. After rumors of psychedelic drug and ketamine use, Musk...
Alex Spiro, Musk’s lawyer, denied the charges.
According to a report in the Wall Street Journal, board members at Tesla and SpaceX are concerned with possible drug use because it could inhibit Musk from doing his job and carrying out his leadership roles at the companies. The report suggested that many believe that Musk is using ketamine, a drug that is popular with technology executives.
Controversy surrounding Musk and drug use sparked with his use of marijuana while live on Joe Rogan‘s podcast in 2018.
Musk revealed that he suffered from a non-diagnosed bipolar disorder and Asperger’s syndrome and had been prescribed ketamine as an antidepressant. After rumors of psychedelic drug and ketamine use, Musk...
- 1/15/2024
- by Morgan Lee Powers
- Uinterview
Elon Musk is keeping Delaware Chancery Court busy. The same judge who shepherded months of contentious discovery in the billionaire’s legal battle with Twitter will preside at trial in a shareholder lawsuit against Tesla’s board over his 2018 pay package, calling it “the largest in human history.”
The Telsa stockholder Richard Tornetta – “individually and on behalf of all others similarly situated” sued board members James Murdoch, Robyn Denholm, Antonio Gracias, Linda Johnson Rice, Brad Buss, Ira Ehrenpries and Musk to invalidate the grant, worth up to 56 billion if the electric automaker achieved certain market cap and financial milestones.
The proceedings are set to start Monday morning with Musk up to his eyeballs in fallout from Twitter since his purchase. There’s Blue-Check chaos, thousands of employees fired and others resigning, the FTC breathing down his neck, advertisers wary, debt payments looming and, as he told staffers, bankruptcy not out of the question.
The Telsa stockholder Richard Tornetta – “individually and on behalf of all others similarly situated” sued board members James Murdoch, Robyn Denholm, Antonio Gracias, Linda Johnson Rice, Brad Buss, Ira Ehrenpries and Musk to invalidate the grant, worth up to 56 billion if the electric automaker achieved certain market cap and financial milestones.
The proceedings are set to start Monday morning with Musk up to his eyeballs in fallout from Twitter since his purchase. There’s Blue-Check chaos, thousands of employees fired and others resigning, the FTC breathing down his neck, advertisers wary, debt payments looming and, as he told staffers, bankruptcy not out of the question.
- 11/12/2022
- by Jill Goldsmith
- Deadline Film + TV
Exclusive: Former ICM political strategist Brandon Sharp has launched Agenda, a management and production company that will be dedicated to advancing inclusive entertainment and media projects. The company will work with TV and film writers, actors, directors, musicians, authors, artists, public intellectuals, playwrights, and business founders from predominately untapped communities to realize their projects on more equitable grounds.
“Representation for representation’s sake is not enough,” said Sharp. “The strides we’ve made for people of color in front of and behind the camera are significant, but the business side of media and entertainment remains largely unchallenged. The people who stand to profit the most from the boon in ‘diverse’ content are not the originators of that content, and that has to change.”
Agenda represents and produces alongside more than 20 creatives, including Linda Johnson Rice, heir to Ebony and Jet Magazine’s Johnson Publishing Company; Rashad Robinson (What’s Costing...
“Representation for representation’s sake is not enough,” said Sharp. “The strides we’ve made for people of color in front of and behind the camera are significant, but the business side of media and entertainment remains largely unchallenged. The people who stand to profit the most from the boon in ‘diverse’ content are not the originators of that content, and that has to change.”
Agenda represents and produces alongside more than 20 creatives, including Linda Johnson Rice, heir to Ebony and Jet Magazine’s Johnson Publishing Company; Rashad Robinson (What’s Costing...
- 11/11/2022
- by Lynette Rice
- Deadline Film + TV
Exclusive: Lisa Cortés, co-director of Amazon’s voter suppression documentary All In: The Fight for Democracy, is set to direct The Empire of Ebony, a documentary that explores the rise and impact of the first black media empire Ebony magazine and its sister publication, Jet. Cortés will produce the pic with Alyse Shorland and Roger Ross Williams under his One Story Up banner. Cortés and Williams previously collaborated on the Emmy-winning doc, The Apollo.
Currently in production, the doc will focus on the Johnson Publishing Company, the first home to Ebony and Jet. It will explore the media empire’s beginnings as a small publishing company, started by John H. Johnson and Eunice W. Johnson with a five hundred dollar loan, to its incredible growth into a publishing juggernaut with an unparalleled cultural impact. The film will chart the rise of Ebony and Jet and their growth into a brand...
Currently in production, the doc will focus on the Johnson Publishing Company, the first home to Ebony and Jet. It will explore the media empire’s beginnings as a small publishing company, started by John H. Johnson and Eunice W. Johnson with a five hundred dollar loan, to its incredible growth into a publishing juggernaut with an unparalleled cultural impact. The film will chart the rise of Ebony and Jet and their growth into a brand...
- 2/25/2021
- by Amanda N'Duka
- Deadline Film + TV
The LadyLike Foundation’s annual luncheon is expected to raise a half million dollars for the nonprofit organization whose mission is to educate, empower and inspire young girls living in underprivileged communities around the Greater Los Angeles area.
Funds raised at the luncheon enable LadyLike Foundation to provide five scholarships to college bound young ladies from the inner city of Los Angeles.
Attending the event are Ladylike Foundation Founder/President Leah Pump, actress and philanthropist Angela Bassett (honoree), actress and philanthropist Pauletta Pearson Washington (honoree), actress and philanthropist Latanya Richardson Jackson (honoree), chairman and CEO of Bet networks Debra Lee (honoree), Holly Robinson-Peete (emcee), Michele Weaver (attend), Jasmine Luv (attend), and featuring a fashion show with: D’Lila Star and Jessie James (daughters of P. Diddy and Kimberly Porter), Corinne Foxx (daughter of Jamie Foxx), Bailey Bellamy (daughter of Bill Bellamy and Kristen Bellamy), Gigi Johnson (granddaughter of Magic Johnson...
Funds raised at the luncheon enable LadyLike Foundation to provide five scholarships to college bound young ladies from the inner city of Los Angeles.
Attending the event are Ladylike Foundation Founder/President Leah Pump, actress and philanthropist Angela Bassett (honoree), actress and philanthropist Pauletta Pearson Washington (honoree), actress and philanthropist Latanya Richardson Jackson (honoree), chairman and CEO of Bet networks Debra Lee (honoree), Holly Robinson-Peete (emcee), Michele Weaver (attend), Jasmine Luv (attend), and featuring a fashion show with: D’Lila Star and Jessie James (daughters of P. Diddy and Kimberly Porter), Corinne Foxx (daughter of Jamie Foxx), Bailey Bellamy (daughter of Bill Bellamy and Kristen Bellamy), Gigi Johnson (granddaughter of Magic Johnson...
- 5/31/2018
- Look to the Stars
Chocolate City was ablaze with all the stars in town for the fourth annual Bet Honors. Gabrielle Union hosted the event for the third year, and helped celebrate the special contributions of the six honorees in the arts and culture.The 2011 luminaries were Cicely Tyson ("Theatrical Arts"), Jamie Foxx ("Entertainer"), Iman ("Service"), Linda Johnson Rice ("Media"), and Herbie Hancock ("Musical Arts"), and historian Lonnie G. Bunch ("Education").Check out the red carpet looks of all the celebs who came out to pay tribute to the night's Honorees in Washington D.C. The show airs tonight at 9pm Et...
- 2/21/2011
- Essence
Sergio already reported yesterday that struggling Ebony magazine (once on the chopping block) just might have some life left in it, and could be on its way to a revival of sorts!
They already hired a new-editor-in-chief in Amy DuBois Barnett, who vows to bring Ebony into the 21st century, creating a multi-dimensional brand.
Now, I read that former White House Social Secretary Desiree Rogers has been hired by Johnson Publishing (the parent company of Ebony) to assist in the revival.
Recall that Rogers stepped down from her post within the Obama administration after last year’s White House state dinner debacle.
The well-connected socialite and corporate power broker Rogers, who’s also a longtime friend of Johnson CEO Linda Johnson Rice, will join Johnson Publishing as “a consultant to get the company back on it’s feet,” and will “assist with corporate strategy.”
I’m looking forward to what...
They already hired a new-editor-in-chief in Amy DuBois Barnett, who vows to bring Ebony into the 21st century, creating a multi-dimensional brand.
Now, I read that former White House Social Secretary Desiree Rogers has been hired by Johnson Publishing (the parent company of Ebony) to assist in the revival.
Recall that Rogers stepped down from her post within the Obama administration after last year’s White House state dinner debacle.
The well-connected socialite and corporate power broker Rogers, who’s also a longtime friend of Johnson CEO Linda Johnson Rice, will join Johnson Publishing as “a consultant to get the company back on it’s feet,” and will “assist with corporate strategy.”
I’m looking forward to what...
- 6/4/2010
- by Tambay
- ShadowAndAct
By Dylan Stableford
Magic is dropping his bid for Johnson.
Earvin “Magic Johnson, the retired NBA star and chairman of Magic Johnson Industries, says that his company is dropping its bid to buy Ebony and Jet magazines owner Johnson Publishing.
Johnson released the following statement late Monday:
"I would like to salute Linda Johnson Rice and the Johnson family for pioneering the iconic brand of the Johnson Publishing Company, which we have all come to love and respect...
Magic is dropping his bid for Johnson.
Earvin “Magic Johnson, the retired NBA star and chairman of Magic Johnson Industries, says that his company is dropping its bid to buy Ebony and Jet magazines owner Johnson Publishing.
Johnson released the following statement late Monday:
"I would like to salute Linda Johnson Rice and the Johnson family for pioneering the iconic brand of the Johnson Publishing Company, which we have all come to love and respect...
- 2/23/2010
- by Dylan Stableford
- The Wrap
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