Cathie Wood and Elon Musk agreed

Cathie Wood and Elon Musk agreed

Cathie Wood and Elon Musk

Tesla boss Elon Musk has had a rough few weeks.

After less-than-thrilling reactions to a fourth quarter earnings call that sent Tesla’s stock down to $180.06 on Jan. 25, Musk already had some thinking to do about how to regain his EV company’s former supercharged growth.

But Musk took another blow on Jan. 26, when a Delaware court ruled that the CEO’s estimated $56 billion pay package needed to be unwound — the largest CEO pay package in America — and knocking the billionaire off his throne as the world’s richest man.

Musk, naturally, did not take the news well, tweeting on Jan. 30, “Never incorporate your company in the state of Delaware” as well as asking his followers on X if he should move Tesla’s (TSLA) – Get Free Report incorporation state to Texas.

There’s also someone else who finds Delaware’s ruling unfair — investor Cathie Wood, who has historically been one of Musk’s biggest supporters in terms of her investments in Tesla.

Wood took to X on the evening of Feb. 4 to share a thread about her thoughts on the ruling, starting off by saying that it’s “un-American, an assault on investor rights, and an insult to the Board of Directors of one of the most stunningly successful companies in US history.”

Wood continued by explaining that Ark Invest (ARKK) – Get Free Report had gone through the Delaware Court decision and found that it “missed the forest for the trees, spectacularly and unfairly.”

Wood also called meeting the performance goals the Tesla Board gave to Musk a “Herculean task”, but notes that Tesla hit Ark’s bull case target price two years earlier than anticipated. She also stressed that Tesla’s story “epitomizes why people have flocked to America,” calling Delaware’s ruling a “travesty.”

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