Musk's record $56bn pay deal rejected for second time

Tesla CEO Elon Musk's record-breaking $56bn (£47bn) pay package will not be reinstated, a judge has ruled.

The decision in the Delaware court comes after months of legal wrangling and despite it being approved by shareholders and directors in the summer.

Judge Kathleen McCormick upheld her previous decision from January, in which she argued that the board were too heavily influenced by Mr Musk.

Tesla has been contacted for comment.

Ms McCormick said the pay package would have been largest ever for the boss of a listed company.

Mr Musk can appeal the decision.