Elon Musk became the first person to reach a net worth of US$700 billion after the Delaware Supreme Court restored his previously voided Tesla stock options.

Forbes now estimates his fortune at US$749 billion, following the court’s decision on December 19.

The Supreme Court found the remedy of rescission improper after a lower court ruled the 2018 stock options grant was unfair to shareholders.

Musk holds 12% of Tesla’s common stock, valued at US$199 billion, with his total Tesla holdings now at US$338 billion.

He also owns a 42% stake in SpaceX, valued at US$336 billion based on a recent private tender offer.

Musk remains the world’s richest person, ahead of Google cofounder Larry Page.

🔗 Source: Forbes

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