Delaware Supreme Court overturns original ruling, Elon Musk's net worth soars to a record-breaking $749 billion

Reversal of the Verdict Brings Salary Plan Back to Light

The Supreme Court of Delaware made a significant ruling this Friday, overturning the decision by a lower court last year that dismissed the case, and reinstating the compensation plan signed by Tesla CEO Elon Musk in 2018. The plan involves Tesla stock options valued at up to $139 billion. The Supreme Court explicitly stated that the previous ruling to revoke the compensation plan was procedurally improper and did not adequately protect Musk’s rights.

Wealth Surges, Surpassing Historic Highs

With the compensation plan reinstated, Musk’s net worth climbed to $749 billion on Friday evening, making him the world’s first billionaire to surpass this level of assets. According to Forbes’ billionaire index tracking, this figure was directly driven by the newly added $139 billion in stock options earlier. Prior to this, Musk had already pushed his net worth past the $600 billion mark earlier this week due to positive news regarding SpaceX’s upcoming IPO.

Background of the Compensation Dispute

The origins of this compensation plan date back several years. In 2018, Tesla’s board approved the plan, originally valued at $56 billion. However, two years ago, a lower court judge dismissed the case, citing the compensation amount as “absurdly excessive,” sparking ongoing legal battles. The Supreme Court’s recent overturning not only reversed the previous decision but also brought an end to this long-standing legal dispute.

Aerospace Industry Development Boosts Asset Appreciation

The upcoming IPO of Musk’s SpaceX has provided additional momentum for his overall wealth growth. Coupled with the reinstatement of Tesla stock options, multiple positive factors have converged, driving Musk to create a new peak in global wealth.