Elon Musk becomes first person worth $700 billion following pay package ruling [View all]
Source: Reuters
Dec 20 (Reuters) - Tesla (TSLA.O) CEO Elon Musk's net worth surged to $749 billion late Friday after the Delaware Supreme Court reinstated Tesla stock options worth $139 billion that were voided last year, according to Forbes' billionaires index.
Musk's 2018 pay package, once worth $56 billion, was restored by the Delaware Supreme Court on Friday, two years after a lower court struck down the compensation deal as "unfathomable."
The Supreme Court said that a 2024 ruling that rescinded the pay package had been improper and inequitable to Musk.
Earlier this week, Musk became the first person ever to surpass $600 billion in net worth on the heels of reports that his aerospace startup SpaceX was likely to go public.
Read more: https://www.reuters.com/business/autos-transportation/elon-musk-becomes-first-person-worth-700-billion-after-court-ruling-pay-package-2025-12-20/
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