Elon Musk Becomes First Person Worth $700 Billion After Court Restores Tesla Stock Options

Elon Musk has shattered yet another wealth milestone, becoming the first person in history to surpass a $700 billion net worth, just days after crossing the $600 billion mark.

This leap comes after a landmark ruling by the Delaware Supreme Court restored a $139 billion award of Tesla stock options that had been previously voided, clearing the way for Musk’s fortune to skyrocket. Forbes now estimates his total wealth at a record $749 billion following the court’s decision.

For years, Forbes had discounted the Tesla stock options by 50%, after the Delaware Court of Chancery deemed the 2018 award process unfair due to Musk’s influence over Tesla’s board. The Supreme Court’s reversal on Friday, stating that “rescission was an improper remedy,” prompted Forbes to remove the discount, adding $69.5 billion to Musk’s net worth overnight.

Tesla remains Musk’s most valuable asset, according to Forbes, with his stock options and 12% ownership of the EV maker totaling $338 billion. This figure does not even include his separate, unprecedented pay package awarded in November, which could eventually provide up to $1 trillion in additional stock if Tesla hits ambitious growth targets over the next decade.

Musk’s second-largest holding, SpaceX, is valued at roughly $336 billion, based on a private tender offer that doubled the company’s estimated worth since August. The rocket company could propel Musk to his next historic milestone – a trillion-dollar personal fortune – if its planned IPO in 2026 reaches the projected $1.5 trillion valuation.

For perspective, Google cofounder Larry Page, the world’s second-richest individual, holds an estimated $253 billion – still a staggering half-trillion dollars shy of Musk’s current net worth.