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:
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