Elon Musk’s $56 billion pay package from Tesla was challenged in Delaware Supreme Court by a lower court judge in January. Shareholders voted to restore the compensation in a historic vote. The outcome could impact Delaware’s corporate law and Court of Chancery, criticized for its treatment of entrepreneurs like Musk.

The case centers on whether Musk controlled the board during pay negotiations and if shareholders were fully informed. After the ruling, companies like Tesla moved their legal homes to Texas or Nevada. If Musk loses, he could still receive billions in stock from Tesla. The company proposed a new $1 trillion compensation plan last month.

The legal battle over Musk’s pay focuses on whether shareholders were properly informed and if the board acted independently. Tesla estimated the stock options to be worth $56 billion, but they are now closer to $120 billion due to the company’s success. Musk is currently the world’s richest person with a fortune of around $480 billion, according to Forbes.

Read more at Yahoo Finance: Tesla urges Delaware Supreme Court to restore Musk’s $56 billion payday