Tesla CEO Elon Musk has set a new record for personal wealth, becoming the first person in history to surpass a $700 billion net worth,
According to Forbes and wealth tracking indexes, his estimated fortune now stands at about $749 billion.
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The surge in Musk’s net worth came after the Delaware Supreme Court overturned a lower court decision that had voided his 2018 Tesla compensation package.
The package was originally approved as a performance-based award. In 2024, the lower court struck down the award, calling the process of approving it “unfathomable.”
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The court questioned whether Tesla’s board was sufficiently independent when it granted Musk the options.
That pay plan, once worth roughly $56 billion when granted, has swelled in value to an estimated $139 billion due to an increase in Tesla share prices.
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In its ruling, the Supreme Court said that rescinding the compensation entirely was an improper remedy that left Musk “uncompensated for his time and efforts” over six years.
This decisive legal victory restored the full value of the stock-option award, which was previously discounted by about 50% in net worth calculations.
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Forbes removed that discount after the ruling, adding roughly $69.5 billion back into its estimate of Musk’s wealth.
Musk already made history last week by becoming the first individual to reach a $600 billion net worth.
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It is hard to imagine anyone overtaking Musk anytime soon. The billionaire has a significant stake in SpaceX and interests in other ventures such as Neuralink, The Boring Company, X, and xAI.
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