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World’s Richest Person: xAI and SpaceX CEO Elon Musk’s net worth has jumped to nearly $750 billion after a US court brought back his Tesla stock options worth $139 billion. According to Forbes’ billionaires list, this move puts Musk closer to becoming the world’s first trillionaire. The Delaware Supreme Court in the US restored Musk’s 2018 Tesla pay deal, cancelling an earlier lower-court decision that had rejected it.
The court said that removing the pay package completely would mean Musk was not paid at all for his work over the past six years. This decision overturned a 2024 ruling that had cancelled the package.
Based on Tesla’s latest share price, the 2018 pay deal is worth about $139 billion. If Musk uses all the stock options, his ownership in Tesla would increase from 12.4% to 18.1%.The 2018 pay deal provided Musk options to buy about 304 million shares at a discounted price if Tesla met specific milestones. Tesla’s board had warned that Elon Musk, the world’s richest person, leading the SpaceX rocket venture, could leave the electric car company if his pay was disrupted.
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Tesla CEO Becomes First Person To Surpass $600 Billion Net Worth
Earlier this week, the Tesla CEO became the first person ever to surpass $600 billion in net worth over reports that SpaceX was likely to go public. With his company SpaceX reportedly launching a tender offer, valuing the firm at $800 billion, Musk’s net worth has surged by $168 billion to an estimated $677 billion.
SpaceX is aiming for an initial public offering (IPO) next year that may value the firm at around $1.5 trillion. Also, Musk’s 12 per cent stake in electric vehicle maker Tesla is worth $197 billion, excluding stock options. Moreover, Musk’s xAI Holdings is reportedly in talks to raise new funding at around $230 billion valuation. Musk owns a 53 per cent stake in xAI Holdings, worth $60 billion. (With IANS Inputs)
