Elon Musk’s wealth jumped sharply late Friday. His net worth climbed to $749 billion. This happened after a major court decision in Delaware.
The Delaware Supreme Court restored Tesla stock options worth $139 billion. These stock options had been cancelled last year. The decision immediately boosted Musk’s fortune.
The ruling brings back Musk’s 2018 pay package. That deal was once valued at $56 billion. A lower court had earlier struck it down. That judge had called the deal unfathomable.
The Supreme Court disagreed. It said the 2024 decision to cancel the package was unfair. The court ruled that Musk had been treated improperly. This decision capped an incredible week for Musk. Just days earlier, his net worth crossed $600 billion. No one had ever reached that level before.
The jump followed reports about SpaceX. The aerospace company is expected to go public. Investors reacted strongly to the news. Last month, Tesla shareholders also backed Musk again. They approved a $1 trillion compensation plan. It is the largest corporate pay package in history.
Shareholders supported Musk’s vision. He wants to turn Tesla into an artificial intelligence and robotics leader. The vote showed strong confidence in his leadership.
Musk is now far ahead of everyone else. His wealth is nearly $500 billion more than Larry Page. Page currently ranks as the world’s second richest person.
The gap has never been this wide. Musk now stands alone at the top of the global rich list.
