Elon Musk won reinstatement of his 2018 pay package as chief executive of Tesla, after the Delaware Supreme Court reversed the finding of a judge who said the billionaire had improperly influenced board members who came up with the compensation plan. Jonathan Levin has more on "Bloomberg The Close."

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A court has reinstated Elon Musk's 2018 compensation package as CEO of Tesla, a plan that has grown in potential value from hundreds of billions to possibly a trillion dollars. The legal battle over the pay package began in 2018 and its resolution is seen as a significant development for both Musk and Tesla.

Despite ongoing revenue growth constraints and a potential down year for the company, Tesla's stock has rebounded and investors continue to support Musk's ambitious vision. The company's future remains uncertain, but the market has consistently shown patience with Musk's leadership and long-term goals.

Musk Wins Reinstatement of His 2018 Pay Package as CEO

Jonathan, you know, Musk put up a big fight for this. You go all the way back to, what is it, 2018 or so, that first lawsuit filed over what was then a pay plan of like, you know, a couple hundred billion dollars. Now it's a pay plan of potentially a trillion dollars. Here, does this kind of clear the deck for Tesla and more importantly for Elon Musk to just kind of go forward now? You know, it's absolutely wild and it's totally unclear to me initially what this means in light of the new pay package, but it just goes to show what a wild story Tesla is to me. You know, I think we're gonna get into a little bit later in this segment some of our outlook for 2026 and it's hard not to think about Tesla when we think about what could go right and what could go wrong in the year ahead. This is such a wild stock, such a wild story, unlike any other on the S&P 500. And, you know, what this tells us, what this reminds us of, is anything can happen with this name. It is, you know, it does not trade on fundamentals. It's just wild. Well, that's what I'm curious about too, because we talk about the stock sort of rebounding. It's still only up less than 20% on a year-to-date basis, which for a stock like Tesla is actually not necessarily that good for a stock that typically tends to almost double in most years. But that stock is rising at a time where we're still seeing revenue growth constraint. I think they're actually headed for one of their first down years in quite some time on the revenue side. So what exactly are investors paying for here? You know, as always, they're paying for a story. The thing that I find most incredible about Tesla is how, you know, Musk has been able to move the bar again and again, and investors continue to be willing to go there with him. You know, we often hear, you know, about CEOs setting goalposts, whether it's for AI or anything else. And people will say, well, if they don't get this done, if they don't get robo-taxis done by year X, the market's gonna turn on them. But the market has been willing to hang in there with Musk over and over and over. And I don't know where the leash ends.

The U.S. is conducting airstrikes against ISIS targets in Syria in retaliation for the attack that killed two American soldiers and a U.S. interpreter on Saturday, multiple sources told CBS News.

Damascus

U.S. launches massive strike on ISIS targets in Syria

The suspect in the Dec. 13 mass shooting on the campus of Brown University was found dead by suicide in a storage unit in Salem, New Hampshire, authorities said. He has been identified as 48-year-old Claudio Manuel Neves Valente, a former Brown grad student.

Providence

How a Reddit post led police to the suspected university shooter

Seven people were killed, including former NASCAR driver Greg Biffle and his wife and children, in a plane crash in North Carolina. Investigators hope to find clues about why it happened on the cockpit voice recorder. Cristian Benavides has the latest.

Plane crash kills NASCAR driver, family

President Trump announced new agreements on Friday with nine pharmaceutical companies aimed at making certain prescription drugs cheaper. CBS News reporter Karen Hua has the details.

Washington

Trump announces agreements with major drugmakers to lower prices

The U.S. military has carried out airstrikes in central Syria targeting suspected sites linked to the Islamic State terror group. The strikes follow last Saturday's ISIS attack that killed two soldiers and a U.S. civilian working as an interpreter.

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Middle East Conflict

U.S. launches retaliatory strikes on ISIS in Syria

The U.S. Justice Department released a new trove of documents from its investigations into the late financier and convicted sex offender Jeffrey Epstein on Friday, bowing to pressure from lawmakers who forced their disclosure with a new law.

Washington County

Justice Department releases new tranche of Epstein files

The Justice Department has released a new batch of files related to convicted sex offender Jeffrey Epstein. CBS News legal reporter Katrina Kaufman has more.

Combing through newly released Epstein files

TikTok has signed a deal to sell its U.S. operations to a group of investors in America, a source familiar with the deal tells CBS News.

TikTok nears deal to avoid ban in the U.S.

Russian President Vladimir Putin reacted to the European Union's massive $108 billion loan to fund Ukraine's war against Russia.

Kyiv

European Union loans Ukraine billions as Putin boasts about war

The war, which began with Russia’s full-scale invasion in February 2022, continues to take a heavy toll on civilians, particularly in frontline areas such as Zaporizhzhia, where fighting and shelling persist.

Moscow

Ukraine Invasion

Putin accuses Kyiv of rejecting peaceful settlement

The man believed to be responsible for carrying out the Brown University shooting and killing an MIT professor was found dead in a storage unit in New Hampshire on Thursday, officials said.

Salem

Suspect in Brown and MIT shootings found dead

Australia will launch a national gun buyback program in the aftermath of a deadly attack on a Hanukkah celebration at Sydney's Bondi Beach, Prime Minister Anthony Albanese said.

Council of the City of Sydney

Australia announces gun buyback program after Bondi Beach shooting

TikTok’s Chinese owner, ByteDance, signed binding agreements with American investors to allow the U.S. arm of the business to continue operating.

Beijing

TikTok signs deal to allow app to continue operating in the U.S.

Under a law passed by Congress and signed by President Trump, the Justice Department has until Friday to release its files on the Jeffrey Epstein case. House Democrats released more photos from the estate of the convicted sex offender. Scott MacFarlane reports.

House Democrats release more Epstein photos ahead of DOJ deadline

The European Commission announced it will delay the signing of the Mercosur trade agreement until the new year after Meloni asked for more time. No date has been set. Backers hope deal won't be further derailed.

Brussels

Mercosur signature delayed to January after Meloni asked for more time

President Trump on Thursday signed an executive order to reclassify marijuana as a Schedule III drug. CBS News White House reporter Aaron Navarro has more on that and the president's year-end address from Wednesday night.

Trump signs executive order reclassifying marijuana

President Donald Trump laid out what he claims are the reasons that America's economy is thriving in an address to the nation. This comes as Americans remain concerned about high prices.

Trump touts economic record during address to nation

Multiple sources tell CBS News a person of interest has been identified in the mass shooting at Brown University. CBS News' Tom Hanson reports.

Person of interest identified in deadly Brown University shooting

Brazil’s Senate passed a bill that could drastically reduce former President Jair Bolsonaro’s 27-year prison sentence for plotting a coup, potentially cutting his time behind bars to just over two years.

Rio de Janeiro

Brazil Congress passes bill to cut Bolsonaro prison term

EU leaders are split in Brussels over using frozen Russian assets to fund Ukraine. Poland backs urgent action, while Belgium resists over legal and financial risks. Ukraine is pressing for a decision by year’s end.

EU leaders urge swift decision on frozen Russian funds for Ukraine

The U.S. military said Wednesday that it attacked a boat accused of smuggling drugs in the eastern Pacific Ocean, killing four people on the same day the House rejected efforts to limit President Donald Trump’s power to use military force against drug cartels.

New U.S. strike on alleged drug boat kills four

The U.S. Justice Department said late on Wednesday (December 17) the federal government was liable in the fatal January 29 collision of an Army Black Hawk helicopter and American Airlines regional jet that killed 67 people near Reagan Washington National Airport.

U.S. admits liability in fatal Black Hawk-American Airlines crash

Nick Reiner made his first court appearance after being charged with two counts of first-degree murder in the killing of his parents, Rob Reiner and Michele Singer Reiner.

Los Angeles

Nick Reiner appears in court on murder charges in killing of parents

The United States on Wednesday (December 17) approved $11.1 billion in arms sales to Taiwan, marking the largest ever U.S. weapons package for the island, which is under increasing military pressure from China.

U.S. approves $11.1 billion arms package for Taiwan, largest ever

EU leaders will gather in the coming hours to vote on potentially using nearly 200 billion dollars in frozen Russian assets to support Ukraine. But it's a controversial and risky plan.

EU leaders to vote on Ukraine loan backed by frozen Russian assets

Nick Reiner made his first court appearance on Wednesday since being arrested for the killings of his parents, Rob and Michele.

Nick Reiner makes first court appearance since parents' deaths

Vladimir Putin said Russia would achieve its goals by diplomatic or military means and would seek to expand a “security buffer” zone in Ukraine.

Putin warns Russia will extend gains in Ukraine if peace talks fail

Newly-released surveillance video shows Nick Reiner at a gas station convenience store just hours after he allegedly fatally stabbed his parents, Rob and Michele Reiner, and minutes before he was taken into custody.

New surveillance video shows Nick Reiner before his arrest

U.S. President Donald Trump announced on social media a "total and complete blockade of all sanctioned oil tankers" going in and out of Venezuela. Some details remain unclear, including when the order would be implemented and how many tankers could be involved.

Caracas

Trump orders blockade on Venezuela oil tankers

A man who allegedly opened fire on a Hanukkah celebration at Sydney's famed Bondi Beach has been charged with 59 offences, including murder and terrorism, New South Wales Police said.

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