Just four days after Forbes announced Elon Musk became the first person to ever have a net worth of $600 billion, the Tesla CEO eclipsed himself to become the first person to ever reach $700 billion net worth. Musk’s recent Delaware Court victory regarding Tesla stock options now leaves him worth $749 billion.
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On Friday (December 19), a Delaware Supreme Court overturned a lower court ruling that voided the world’s richest man being awarded Tesla stock options, now worth $139 billion.
According to ABC News, the lower court deprived Musk of a $55 billion pay package that Tesla paid out in 2018. It arrived as an incentive for Musk to continue leading the car maker to a new level in the industry.
Elon Musk Wins Appeal In Delaware Court Case That Voided His Tesla Stock Options
Additionally, the $55 billion pay package has since increased in worth, now totaling $13At the time of the 2018 pay package, Tesla’s market value sat between $50 billion to $75 billion. 9 billion, according to Forbes. Thus, the publication estimates Elon Musk’s new net worth at $749 billion.
Forbes reported that the lower court, the Delaware Court of Chancery, first ruled that the process of awarding the package to Elon Musk was unfair due to his control over Tesla’s board. However, the Supreme Court granted Musk’s appeal and ruled that “rescission [of the options] was an improper remedy.”
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Before the ruling, Forbes discounted the value of the Tesla stock options in question by 50% since January 2024. After the Supreme Court decision, the publication added $69.5 billion back to Musk’s net worth, making Tesla his most valuable asset once again.
His second most valuable asset is SpaceX. He currently owns an estimated 42% stake in the company. While SpaceX is valued at $800 billion, Musk’s stake is worth about $336 billion.
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