Elon Musk has made history by becoming the first individual ever to achieve a personal net worth exceeding $700 billion. This milestone comes after a pivotal ruling by the Delaware Supreme Court reinstated a long-disputed Tesla compensation package, significantly boosting Musk’s wealth and cementing his position as the world’s richest person.
According to the latest Forbes Billionaires Index, Musk’s net worth surged to as high as $749 billion late on Friday following the restoration of stock options valued at $139 billion. This move effectively reversed a lower court’s decision made last year that had invalidated the compensation, which had been a subject of intense legal scrutiny and public debate.
Court restores controversial Tesla pay deal
The Delaware Supreme Court ruling revived Musk’s 2018 Tesla pay package, which was originally valued at $56 billion. The package had previously been voided by a lower court, which described it as “unfathomable” and questioned its fairness. In its judgment, the Supreme Court stated that the 2024 cancellation of the package was improper and inequitable, thereby allowing the compensation to stand as initially approved by Tesla shareholders.
This legal victory not only reinforces Musk’s leadership at Tesla but also reflects strong shareholder confidence in his vision for the company. The decision has been widely interpreted as a major affirmation of Musk’s business strategies and long-term growth plans for Tesla and its affiliated ventures.
Wealth surge driven by Tesla and SpaceX momentum
Musk’s wealth surge has been fueled by the continued growth of Tesla, which has maintained a dominant position in the global electric vehicle market, as well as momentum from his aerospace company, SpaceX. Earlier in the week, he had already surpassed the $600 billion net worth mark, bolstered by reports that SpaceX may be preparing for a public listing, which could further increase his personal fortune.
In addition, in November, Tesla shareholders approved a $1 trillion future pay plan for Musk, the largest in corporate history. This move signaled strong investor support for Musk’s vision of transforming Tesla into a leader not just in electric vehicles, but also in AI, robotics, and cutting-edge energy solutions.
With this latest milestone, Musk’s net worth now exceeds that of Google co-founder Larry Page by nearly $500 billion, widening the gap between him and other top tech billionaires. Analysts note that this achievement underscores both Musk’s entrepreneurial influence and the extraordinary market valuation of the companies he leads.
As Musk continues to expand his ventures, including Tesla, SpaceX, and other emerging technology projects, the trajectory of his wealth suggests that he may continue to break new records and set unprecedented benchmarks in personal wealth accumulation and corporate leadership.