Tesla CEO Elon Musk’s net worth jumped sharply late Friday after the Delaware Supreme Court brought back Tesla stock options worth $139 billion that had been cancelled last year, according to Forbes’ billionaires list. This pushed Musk’s net worth to about $749 billion.
Did a court ruling make Musk richer?
The court restored Musk’s 2018 pay deal, which had once been valued at $56 billion. A lower court had scrapped the package two years ago, calling it excessive. On Friday, the Supreme Court ruled that the 2024 decision to cancel the pay package was unfair and should not have been made.
Earlier this week, Musk also made history by becoming the first person to cross a net worth of $600 billion. This came after reports that his space company, SpaceX, could soon go public.
Musk’s pay deal breaks records, wealth soars past Larry Page
In November, Tesla shareholders cleared a record-breaking pay package for Elon Musk, valued at about $1 trillion. It became the biggest executive compensation plan ever, as investors backed Musk’s plan to turn Tesla into a major force in artificial intelligence and robotics.
With this, Musk’s wealth has surged far ahead of Google co-founder Larry Page, the world’s second-richest person, by nearly $500 billion, according to Forbes’ billionaires list.
Beyond Tesla: Inside Elon Musk’s expanding empire
Elon Musk’s business interests go far beyond Tesla, where he holds a large stake. He is also the founder and chief executive of SpaceX, the company known for reusable rockets and the Starlink satellite internet service. His portfolio includes Neuralink, which is working on technology to connect the human brain with computers, and The Boring Company, which focuses on building tunnels and new transport solutions. Musk also runs X Corp., the parent company of the social media platform once called Twitter, and xAI, a firm working on artificial intelligence research.
Musk also had a short role in the US government during Donald Trump’s presidency. He worked with the Department of Government Efficiency, or DOGE, an office created to reduce waste and improve how the federal government functions. Musk served as a senior adviser without pay, offering advice on cutting costs and restructuring government operations.
