A judge in the US state of Delaware has annulled a $55.8bn (£44bn) pay deal awarded to Elon Musk in 2018 by the electric car company Tesla.
The lawsuit was filed by a shareholder who argued that it was an overpayment.
Judge Kathaleen McCormick called the compensation “an unfathomable sum” that was not fair to shareholders and said the process leading to the package being approved was “deeply flawed”.
She ruled the contract should be cancelled.
The pay deal, decided back in 2018, was the biggest ever in US corporate history, helping to make Mr Musk the richest person in the world. Bloomberg and Forbes estimated his net worth to be between $198bn (£162bn) and $220bn (£180bn), in November 2023.
