Ruling Seals Musk-Induced Corporate Power Shift: Delaware Brief

A Musk-Induced Corporate Power Shift

Elon Musk

Photographer: Krisztian Bocsi/Bloomberg

The Delaware Supreme Court’s landmark ruling Friday completed a trilogy of high-profile decisions that signal the justices want to shore up the state’s business-friendly reputation, quiet the “DExit” noise, and get out from under the political attacks — particularly those fueled by Elon Musk, Mike Leonard reports.

The latest from the court unanimously upheld the controversial state Senate Bill 21, which imposed a rigid definition of corporate controlling stockholders and beefed up the presumption that board members are capable of independent oversight.

The ruling comes after the court restored Musk’s $56 billion pay package ...