Tesla CEO Elon Musk has become the world’s richest individual, with a net worth of US$749 billion, after the Delaware Supreme Court reinstated $139 billion in stock options that were voided last year, according to Forbes’ billionaires index.
Musk’s original 2018 pay package, initially valued at $56 billion, was previously struck down by a lower court, which labelled it “unfathomable.” On Friday, the Supreme Court described the ruling as “improper and inequitable,” restoring the package and pushing his fortune past the $700 billion mark, nearly $500 billion more than Google co-founder Larry Page, the world’s second-richest person.
Earlier this week, Musk became the first person ever to surpass $600 billion in net worth, aided by reports that his aerospace venture SpaceX may soon go public. In November, Tesla shareholders also approved a separate $1 trillion pay plan, the largest corporate compensation package in history, reflecting investor confidence in Musk’s vision to transform Tesla into a leader in electric vehicles, artificial intelligence, and robotics.
How Musk Built His Empire
Musk’s journey from a tech entrepreneur to the world’s richest person offers some valuable lessons:
Georgia is overhauling its migration laws in one of the most significant legal reforms in years, introducing criminal penalties for fake marriages, ti...
The global race to develop quantum computing is accelerating, with governments and technology firms investing heavily in what is expected to become a ...
Pakistan has warned that any attempt by India to block or significantly reduce river flows under the Indus Waters Treaty could have “far-reaching co...
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 13 June, covering the latest developments you need to know....
The United States began their World Cup campaign in commanding fashion with a 4-1 victory over Paraguay, delivering an emphatic performance that under...
SpaceX made a historic entrance into the Nasdaq on Friday, surging over 20% in its first day of trading and lifting its valuation to more than $2 trillion. Investors flocked to the world’s largest IPO, betting on Elon Musk’s sprawling empire spanning rockets, AI and beyond.
SpaceX has made history with the largest initial public offering ever in the United States, pricing its shares at $135 each and achieving a market valuation of $1.77 trillion.
Canada’s Privacy Commissioner has found that xAI’s Grok chatbot and its parent company X Corp. violated federal privacy law by launching an AI image-generation tool without adequate safeguards, enabling the creation and distribution of non-consensual sexualised deepfakes.
The United Kingdom has begun using SpaceX's Starshield satellite network for military operations, according to people familiar with the matter, marking one of the first known deployments of the secure government-focused system outside the U.S.
SpaceX has made history with the largest initial public offering ever in the United States, pricing its shares at $135 each and achieving a market valuation of $1.77 trillion.
SpaceX made a historic entrance into the Nasdaq on Friday, surging over 20% in its first day of trading and lifting its valuation to more than $2 trillion. Investors flocked to the world’s largest IPO, betting on Elon Musk’s sprawling empire spanning rockets, AI and beyond.
While France hosts next week’s Group of Seven summit, businesses in neighbouring Switzerland have already begun taking precautions, with many shops in Geneva boarded up ahead of a large anti-G7 demonstration expected on Sunday.
Formula 1 driver Pierre Gasly’s Monaco Grand Prix podium has been reinstated after Alpine successfully challenged his post-race penalties through a Right of Review request with the FIA.
Italian Prime Minister Giorgia Meloni and Polish Prime Minister Donald Tusk have criticised Britain, France and Germany for leaving them out of talks with Russia about a potential future peace deal for Ukraine.
European museums are increasingly returning cultural artefacts to countries in Africa and the Middle East, as pressure grows to address the legacy of colonialism and disputed ownership.
British artist David Hockney, one of the most influential figures in contemporary art, has died at age 88, his publicist said on Friday (12 June). He died peacefully at his home in London one month before his 89th birthday.
Thousands of revellers packed Berga's main square as fire-devil performers showered the crowd with sparks during Catalonia's UNESCO-listed La Patum festival.
The 79th Annual Tony Awards took place on Sunday (7 June) at Radio City Music Hall, celebrating the strongest performances of the Broadway season, with singer-songwriter P!nk hosting and delivering the opening performance alongside a host of musical guests.
Barcelona is preparing to mark a historic milestone in the legacy of architect Antoni Gaudí as Pope Leo XIV visits the city this week to inaugurate the Tower of Jesus Christ at the Sagrada Família basilica, almost exactly 100 years after the visionary architect’s death.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment