GOV. SANWO-OLU INSPECTS VANDALISED BRIDGE POLE ALONG LAGOS-BADAGRY EXPRESSWAY. (PHOTO). #PRESS RELEASE

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 SANWO-OLU INSPECTS VANDALISED BRIDGE POLE ALONG LAGOS-BADAGRY EXPRESSWAY •Governor reassures residents about bridge safety   The Governor of Lagos State, Mr. Babajide Sanwo-Olu, on Saturday, carried out an on-the-spot assessment of a vandalised bridge pole at Vin-Niger, along the Lagos-Badagry Expressway in Amuwo-Odofin Local Government Area. He assured Lagos residents that the structural integrity of the bridge had not been compromised, emphasising that the bridge and the work carried out on it remained safe. The Governor, however, disclosed that some fittings used to secure the bridge had been excavated and taken away by vandals. Governor Sanwo-Olu warned that the Lagos State Government would hunt down those responsible for the act, including those involved in buying and selling stolen public infrastructure materials. He also cautioned that the government would not relent in bringing perpetrators to justice, regardless of their status or background. The Governor further des...
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TESLA CEO ELON MUSK WINS $55 BILLION COMPENSATION PACKAGE IN DELAWARE COURT RULING. (PHOTO).

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 Tesla CEO Elon Musk wins $55 billion compensation package in Delaware court ruling

Elon Musk, already the world’s richest person, secured a massive financial victory Friday when the Delaware Supreme Court overturned a prior ruling that had stripped him of a $55 billion pay package awarded by Tesla in 2018 as an incentive to grow the company.

The reversal not only adds to Musk’s current fortune of $679 billion but also validates his long-standing assertion that the Delaware court overstepped its authority when Chancellor Kathaleen St. Jude McCormick rescinded the package in January 2024 following a lawsuit from a Tesla shareholder. Tesla did not immediately comment.

The 2024 ruling had angered Musk enough to prompt him to reincorporate Tesla in Texas, creating pressure on the board to reassure their CEO. Shareholders later voted to reinstate the pay package, which had been valued at $44.9 billion during the second vote 18 months ago.

Musk’s compensation story continued this year with a new pay package that could reach $1 trillion if he boosts Tesla’s market value from $1.6 trillion to $8.5 trillion over the next decade, a plan shareholders approved last month.

When the 2018 package was first created, Tesla’s market value was between $50 billion and $75 billion, and the company was still grappling with production challenges and cash flow concerns. Over time, improved manufacturing and strong sales helped Tesla meet the performance targets tied to Musk’s payout.

McCormick had originally ruled the package was improperly structured, citing a board too closely aligned with Musk, including evidence from his 2022 testimony. The Delaware Supreme Court, in a 49-page decision, found multiple errors in that ruling, restored the 2018 compensation package, and awarded Tesla $1 in nominal damages.


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