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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Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 19th of May, covering the latest developments you need to know.
A U.S. jury has ruled against Elon Musk in his lawsuit against OpenAI, finding the company not liable over claims it had abandoned its original mission to benefit humanity.
A high-powered lawyer representing Elon Musk attacked the personal and professional credibility of OpenAI CEO Sam Altman on Thursday, as a landmark federal trial in California nears its conclusion.
A federal judge on 7 May ruled that the Trump administration’s cancellation of hundreds of humanities grants under the Department of Government Efficiency (DOGE) was unconstitutional and amounted to “blatant viewpoint discrimination”.
The World Urban Forum (WUF13) continues in Baku, Azerbaijan on 18 May, addressing the global housing crisis. The day’s agenda includes the official opening press conference, the WUF13 Urban Expo opening and a ministerial dialogue on the Nairobi Declaration to advance Africa's urban agenda.
United Nations World Urban Forum 13 continues in Baku, Azerbaijan on 19 May with sessions and roundtable discussions focused on strengthening dialogue and advancing cooperation in urban development. Organisers say there are nearly 3 billion people globally who face some form of housing inadequacy.
U.S. President Donald Trump said on Monday he had paused a planned attack on Iran after appeals from the leaders of Qatar, Saudi Arabia and the United Arab Emirates, allowing negotiations to continue over a possible deal to end the conflict.
A 5.2 magnitude earthquake struck China’s Guangxi region early on Monday, killing two people and forcing more than 7,000 residents in Liuzhou to evacuate as rescue efforts continued.
Azerbaijan and Georgia have agreed to resume daily passenger train services on the Baku-Tbilisi-Baku route from 26 May, 2026, marking a major step in restoring regional rail connectivity after services were suspended in 2020 due to the COVID-19 pandemic.
Spanish police in Catalonia have detained Jonathan Andic, the son of Mango fashion group founder Isak Andic, as part of an ongoing investigation into the circumstances surrounding his father’s death in December 2024, authorities said.
Spain’s High Court has cleared Colombian pop star Shakira of tax fraud and annulled a €55 million ($64 million) penalty imposed by Spanish tax authorities in 2021, according to a court document.
Eurovision Song Contest once again proved how unpredictable its outcome can be, with Bulgaria’s Dara turning a late surge into a dominant win while several expected contenders collapsed early. At the same time, the absence of the South Caucasus region from the final raised questions.
Bulgaria has won the Eurovision Song Contest for the first time, taking victory in a final overshadowed by a boycott over Israel’s participation and the war in Gaza.
The Eurovision Song Contest's final takes place in Vienna on Saturday, with the organisers hoping the annual show of glitz and Europop will be a success despite five countries' withdrawal over Israel taking part.
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