The net worth of Tesla CEO Elon Musk rose to US$749 billion on Friday (19), after the Supreme Court of the US state of Delaware reinstated the automaker’s stock options worth US$139 billion that were voided from the billionaire last year, according to the Forbes billionaire index.
Musk’s 2018 pay package, which was worth $56 billion, was reinstated by the Delaware Supreme Court on Friday, two years after a lower court found the compensation deal was excessive.
The Supreme Court said a 2024 ruling that rescinded the pay package was improper and unfair to Musk.
Earlier this week, Musk became the first person to surpass $600 billion in net worth, following reports that his aerospace startup SpaceX is likely to go public.
In November, Tesla shareholders separately approved a $1 trillion payment plan for Musk, the largest corporate pay package in history.
Musk’s fortune now exceeds that of Google co-founder Larry Page, the world’s second-richest person, by nearly $500 billion, according to the Forbes billionaires list.
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(By Rajveer Singh Pardesi)
