Author: admin

Elon Musk became the first person in history to reach a net worth of more than $700 billion following a court ruling that reinstated a massive compensation package tied to his role at electric‑vehicle maker Tesla, reports news agency Reuters.Last week, the Delaware Supreme Court restored stock options from Musk’s 2018 pay package that had been voided by a lower court, leading to a surge in his estimated wealth to about $749 billion. The options are now valued at roughly $139 billion, far more than the original $56 billion figure when the deal was first approved.The high court said the earlier decision to cancel Musk’s pay package was unfair and wrong. This reversed a 2024 ruling that had called the deal “unfathomable.” With the package restored, Musk’s wealth increased significantly and made him the richest person in the world by an absurd margin.Earlier this week, Musk’s wealth passed $600 billion for the first time, following reports that his space company SpaceX might go public, which could increase his fortune even more.In November, Tesla shareholders approved a new pay plan for Musk worth $1 trillion, the largest ever for a corporate executive. The step showed strong support from investors for his plans to make Tesla a leader not in electric cars and also in artificial intelligence, robotics.Musk’s expensive ventures extends beyond Tesla, where he owns a hefty share of stock. He is also the founder and CEO of SpaceX, the aerospace manufacturer and space transport company behind reusable rockets and the Starlink satellite internet network. In addition to Tesla and SpaceX, Musk’s ventures include Neuralink, a neurotechnology firm developing brain‑computer interfaces, and The Boring Company, which focuses on tunnel construction and innovative transport systems. He also oversees X Corp., the parent of the social media platform formerly known as Twitter, and xAI, an artificial intelligence (AI) research company.Musk’s wealth now far exceeds that of his nearest rival, Google co‑founder Larry Page, by nearly $500 billion on the Forbes list.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 set up by executive order to cut government waste and make federal operations more efficient, and Musk served as a special government employee and senior adviser on the initiative without a salary, providing guidance on cost‑cutting measures and restructuring efforts.