BREAKING: Elon Musk Becomes First Person Worth $749 Billion
Delaware's Supreme Court has reinstated his 2018 Tesla pay package worth $139 billion in stock options.
What happened:
🔹 A lower court blocked this pay package in 2024, calling it "unfathomable" and unfair to shareholders.
🔹 Tesla shareholders then voted again with 77% approval to restore it.
🔹 The Supreme Court has now overturned the lower court's decision, stating that canceling the package left Musk "uncompensated for his time and efforts over six years."
Key details:
→ The package includes 303 million Tesla shares
→ Originally valued at $56 billion in 2018
→ Now worth $139 billion at current prices
What's next:
Tesla shareholders have also approved a separate compensation plan worth up to $1 trillion if the company hits certain milestones over the next decade.
Musk's response on X: "Vindicated."
This ruling marks a significant victory for Musk and ends a years-long legal battle that prompted Tesla to move its incorporation from Delaware to Texas.