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Elon Musk closer to becoming first-ever trillionaire as he marks major milestone
Elon Musk has just gotten even closer to being the first-ever trillionaire after a court reinstated his Tesla stock options worth billions.
According to Forbes's billionaires index, the Tesla chief executive's net worth climbed to $749bn (£559bn) on Friday, making Musk the first person to surpass the $700bn milestone. He is already the world's richest man, and around $500bn (£373bn) richer than the second-richest, Google co-founder Larry Page, the index reports.
It follows the Delaware Supreme Court's ruling to reinstate his 2018 Tesla stock options worth $139bn (£103bn), which were rescinded last year. That year, Musk was awarded a pay package including stocks worth $56bn (£41bn) at the time, but it was struck down in a lower court in 2024 as the compensation was "unfathomable".
Delaware judge Kathaleen McCormick concluded after a five-day trial that Tesla's directors were conflicted and key facts were hidden from shareholders when they voted to approve the plan. On Friday, the state supreme court ruled that rescinding the pay package left the Tesla head "uncompensated for his time and efforts over a period of six years.
Amir Nisi
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