Tesla CEO Elon Musk has become the first person in the world to have a net asset value exceeding the 700 billion USD mark after a US court restored his stock compensation package at Tesla.
Forbes' billionaire index shows that Elon Musk's assets increased to about 749 billion USD at the end of December 20 after the lower house of the Delaware Supreme Court decided to restore the voting rights of Tesla shares worth about 139 billion USD to Elon Musk.
The ruling reversed a lower court decision issued last year, which overturned Elon Musk's 2018 salary deal - a compensation package that was once valued at $56 billion.
The Supreme Court believes that the 2024 ruling on the revocation of this compensation package is inappropriate and unfair to Elon Musk.
Earlier this week, Elon Musk also became the first person in the world to surpass the $600 billion mark in net assets thanks to information showing that his aerospace company SpaceX could move forward to list stocks.
In November, Tesla shareholders also approved another separate compensation package for Elon Musk, with an estimated value of about $1 trillion. This is considered the largest corporate salary bonus plan in history.
Investors support this proposal as an affirmation of Elon Musk's vision in transforming Tesla from an electric vehicle company to a business focused on artificial intelligence and robots.
According to Forbes, Elon Musk's current assets have surpassed the world's second richest person, Larry Page, co-founder of Google, by nearly $500 billion.
Elon Musk's strong increase in assets reflects investors' growing optimism about Tesla's long-term prospects, SpaceX's valuations as well as the wave of AI-related technology support.
