For the second year in a row, Fortune’s annual survey of chief executives has designated Elon Musk—who is the richest person in the United States—the nation’s most overrated CEO. Kathaleen McCormack, the chancellor of Delaware’s Court of Chancery, appears to agree. Yesterday she voided Musk’s $55.8 billion pay package at Tesla, while calling into question the wisdom, independence, and honesty of Tesla’s board. This is an unexpected triumph for anyone who aspires to save capitalism from itself.In
Tesla CEO Elon Musk took the witness stand Wednesday to defend himself in a shareholder lawsuit challenging a compensation package he was awarded by the company's board of directors that is potentially worth more than $55 billion.