The wealth of Tesla CEO Elon Musk increased by $139 billion in one day following a decision by the Delaware Supreme Court. The court reinstated the Tesla options package that was canceled last year, which significantly raised his net worth. Reuters reports about this here.
According to the Forbes Billionaires Index, Musk's net worth reached $749 billion by the end of Friday. The restored 2018 compensation package, previously valued at $56 billion, was deemed legitimate by the court, overturning a lower court's decision that labeled the deal unfair.
Elon Musk and Record Wealth After the Court Ruling
The Delaware Supreme Court stated that the 2024 decision to annul the compensation was inappropriate and unfair to Musk. This paved the way for the return of Tesla options worth a total of $139 billion.
Earlier this week, Musk had already become the first person in the world with a net worth exceeding $600 billion. This occurred amidst reports of a possible IPO for his aerospace company, SpaceX.
Elon Musk Surpasses Other Billionaires in the World
In November, Tesla shareholders separately approved a new $1 trillion compensation plan for Musk. This is the largest corporate rewards package in history, which investors supported, anticipating the company's transformation from an electric vehicle manufacturer to a powerful player in the fields of artificial intelligence and robotics.
According to Forbes, Musk's wealth currently exceeds that of Google co-founder Larry Page by nearly $500 billion, who ranks second on the list of the richest people in the world.
Let us remind that businessman Elon Musk suggested that J.D. Vance, today's Vice President of the USA, might lead the country in the future.