Musk,the world’s richest person,in a Delaware courtroom described how the automaker was struggling to survive in 2017,when the pay package was developed.
“I was entirely focused on the execution of the company,” Musk said when he was questioned about Tesla by his attorney Evan Chesler,adding that he did not dictate the terms of the pay plan.
He said he would not accept a pay plan that required him to punch a clock or commit certain hours to Tesla. “I pretty much work all the time,” he said. “I don’t know what a punch clock would achieve.”
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The five-day trial before Chancellor Kathaleen McCormick comes as Musk is struggling tooversee a chaotic overhaul of Twitter,the social media platform he wasforced to buy for $US44 billion in a separate legal battle before the same judge after trying to back out of that deal.
Musk,who arrived in a black Tesla and was led into the courtroom via a separate entrance due to safety concerns,completed his testimony on Wednesday in just under three hours. He was followed on the stand by Antonio Gracias,a Tesla board member from 2007 to 2021.
The billionaire testified that he focuses his attention where it is needed most,which in 2017 was Tesla.