Tesla CEO Elon Musk’s net worth jumped to an estimated $749 billion late Friday after the Delaware Supreme Court reinstated Tesla stock options valued at $139 billion that had been voided last year, according to Forbes’ billionaires index.
The ruling restores Musk’s 2018 compensation package, originally valued at $56 billion, which had been struck down two years ago by a lower court that described the deal as “unfathomable.” In its decision, the Supreme Court said the 2024 judgment that rescinded the pay package was improper and inequitable.
The development comes just days after Musk became the first individual in history to surpass a $600 billion net worth, following reports that his aerospace company, SpaceX, may be preparing for an initial public offering.
In November, Tesla shareholders separately approved a new $1 trillion compensation plan for Musk the largest corporate pay package ever backing his strategy to transform the electric vehicle manufacturer into a major force in artificial intelligence and robotics.
With his wealth now approaching three-quarters of a trillion dollars, Musk’s fortune exceeds that of Google co-founder Larry Page, the world’s second-richest person, by nearly $500 billion, according to Forbes.
