Elon Musk According to news agency Reuters, he became the first person in history to reach a net worth of more than $700 billion after a court ruling reinstated a large compensation package related to his role at electric vehicle maker Tesla.Last week, the Delaware Supreme Court restored stock options from Musk’s 2018 pay package that had been invalidated by a lower court, causing his estimated wealth to rise to about $749 billion. The options are now worth around $139 billion, far more than the original value of $56 billion when the deal was first approved.The Supreme Court said the earlier decision to cut Musk’s pay package was unfair and wrong. That overturned a 2024 ruling that had called the deal “unfathomable.” With the package restored, Musk’s wealth increased significantly, making him the richest person in the world by an absurd margin.Earlier this week, Musk’s fortune surpassed $600 billion for the first time after reports that his space company SpaceX could go public, which could boost his wealth even further.In November, Tesla shareholders approved a new pay plan for Musk worth $1 trillion, the highest ever for a company leader. The move showed strong investor support for his plans to make Tesla a leader not only in electric cars but also in artificial intelligence and robotics.Musk’s expensive ventures extend beyond Tesla, where he owns a significant stock stake. He is also the founder and CEO of SpaceX, the aerospace manufacturer and space transportation company behind reusable rockets and the Starlink satellite internet network. In addition to Tesla and SpaceX, Musk’s ventures include Neuralink, a neurotechnology company that develops brain-computer interfaces, and The Boring Company, which focuses on tunneling and innovative transportation systems. He also oversees X Corp., the parent company of the social media platform formerly known as Twitter, and xAI, an artificial intelligence (AI) research company.According to the Forbes list, Musk’s fortune now far exceeds that of his nearest rival, Google co-founder Larry Page, by almost $500 billion.The billionaire also briefly worked with the Department of Government Efficiency, known as DOGE, under US President Donald Trump in the White House. DOGE was created by executive order to reduce government waste and make federal operations more efficient, and Musk served as a special government employee and senior advisor to the initiative without salary, providing guidance on cost-cutting measures and restructuring efforts.
