Musk becomes world's first $700bn person

Elon Musk has become the first person in history to amass a net worth exceeding $700 billion after a court ruling restored a massive Tesla compensation package. According to Forbes’ billionaires index, Musk’s wealth climbed to about $749 billion late Friday following a decision by the Delaware Supreme Court to reinstate Tesla stock options valued at roughly $139 billion.

The ruling overturned a 2024 decision by a lower court that had voided Musk’s 2018 pay package, once valued at $56 billion, describing it as “unfathomable.” The Supreme Court said rescinding the compensation had been improper and inequitable, effectively returning the stock options to Musk and sharply boosting his personal fortune.

The surge in wealth comes during a period of growing optimism around Musk’s businesses. Earlier this week, he became the first individual to surpass a $600 billion net worth amid reports that his aerospace company SpaceX could move toward an initial public offering.

In November, Tesla shareholders also approved a separate compensation plan valued at $1 trillion, the largest corporate pay package ever, signaling strong investor support for Musk’s strategy to transform Tesla into a major force in artificial intelligence and robotics.

With his net worth now far ahead of other billionaires, Musk exceeds the wealth of Google co-founder Larry Page, the world’s second-richest person, by nearly $500 billion, according to Forbes.