Tesla CEO Elon Musk has reached an extraordinary financial milestone, with his net worth soaring to USD 749 billion, making him the first person in history to surpass $700 billion. This unprecedented surge comes after a significant legal win, as the Delaware Supreme Court reinstated Musk’s 2018 Tesla compensation package. This decision has now cemented his status as one of the world’s wealthiest individuals.
Musk becomes first-ever Billionaire to surpass $700 billion
According to Forbes’s Billionaire Index, Musk’s fortune jumped to $749 billion following the Delaware Supreme Court’s decision to reinstate his 2018 compensation package, originally valued at $56 billion. The ruling, which concluded a legal battle lasting nearly two years, acknowledged that rescinding the pay package had left Musk “uncompensated for his time and efforts over a period,” solidifying his position as the first person in history to surpass the $700 billion mark.
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Richer than Jeff Bezos, Larry Page
Elon Musk’s net worth has reached $749 billion, making him richer than the next three tech billionaires combined: Google’s Larry Page ($252.6 billion), Oracle’s Larry Ellison ($242.7 billion), and Amazon’s Jeff Bezos ($239.4 billion). He is nearly $500 billion richer than Larry Page, the second-richest.
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Reason behind the surge
Musk’s wealth jumped after the Delaware Supreme Court reinstated his Tesla stock options worth $139 billion on December 19. These options were part of a $56 billion pay package approved in 2018, which had been cancelled and tied up in a legal battle for two years. A 2024 ruling had called the package “improper and inequitable,” but the court reversed that decision, boosting Musk’s fortune.
Delivering the order, the court said, "We reverse the Court of Chancery's rescission remedy and award $1 in nominal damages. The Plaintiff's attorneys are awarded fees and expenses based on quantum meruit and a four times multiplier and post-judgment interest on the revised fee award from December 2, 2024. Any disputes regarding fees and expenses should be brought to the Court of Chancery for resolution. Jurisdiction is not retained."
Moreover, Tesla’s rising stock price has significantly added to Musk’s wealth. Since his pay deal was approved, the stock’s value has grown, making his options worth about $139 billion. This reflects Musk’s leadership, as Tesla has become a major player in the electric vehicle market. Earlier this week, Musk also became the first person ever to reach a $600 billion net worth, helped in part by rumours that his space company, SpaceX, might go public, which could make him even richer.