Elon Musk has become the world’s first individual with a net worth exceeding $700 billion after a court decision reinstated a massive Tesla compensation package.
According to the Forbes Billionaires Index, the Tesla chief executive’s wealth jumped to about $749 billion after the Delaware Supreme Court restored stock options valued at $139 billion. The incentives had been voided last year.
The compensation package, originally approved in 2018 and once estimated at $56 billion, was struck down by a lower court, which described it as excessive. However, the Supreme Court ruled on Friday that a 2024 judgment cancelling the deal was flawed and unfair to Musk.
The ruling comes days after Musk crossed the $600 billion mark, driven by speculation that his space technology company, SpaceX, could soon go public.
In November, Tesla shareholders also approved a separate $1 trillion compensation framework for Musk, the largest pay package ever endorsed by investors. Backers said the move reflected confidence in Musk’s plan to transform Tesla into a major force in artificial intelligence and robotics.
With the latest surge, Musk’s fortune now surpasses that of Google co-founder Larry Page, the world’s second-richest person, by nearly $500 billion, Forbes data shows.
