Elon Musk becomes first person worth $700 billion after scoring huge pay package

Wilmington, Delaware - Billionaire Tesla CEO Elon Musk is now worth over $700 billion after scoring a massive pay package from a recent legal victory.

On Friday, Elon Musk became the first person worth over $700 billion after winning a massive Tesla share package from a legal victory.
On Friday, Elon Musk became the first person worth over $700 billion after winning a massive Tesla share package from a legal victory.  © ALLISON ROBBERT / AFP

On Friday, the Delaware Supreme Court ruled that a lower court's 2018 decision to block Musk from receiving the package, which would have allowed him to purchase 303 million split-adjusted Tesla shares, was "inequitable."

The court also noted that the shares originally cost around $56 billion when the case went to court, but they are now worth around $139 billion, leaving Musk "uncompensated for his time and efforts over a period of six years."

Forbes estimates that Musk's wealth now stands at a record $749 billion after the decision.

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The massive wealth gain comes as Musk has woven himself into various lanes of politics and pop culture in recent years.

In 2022, he purchased Twitter, later renaming it X, and has since used it to push memes and far-right conservative views. Earlier this year, he worked as a close advisor to President Donald Trump.

As one of the richest men in the world, Musk regularly faces criticism for his wealth.

According to The New York Times, 2024 tax filings for his Musk Foundation show the organization "failed to give away the minimum amount required by law," and most donations "went largely to charities closely tied to Mr. Musk himself."

Last month, singer Billie Eilish publicly feuded with Musk after she criticized billionaires for hoarding wealth, advising them to "give your money away, shorties."

Cover photo: ALLISON ROBBERT / AFP

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