Elon Musk has reached an unprecedented fortune milestone, surpassing $700 billion, just days after crossing $600 billion. The jump comes after the Delaware Supreme Court overturned a lower court ruling that had invalidated $139 billion in Tesla stock options awarded to Musk, clearing the way for a dramatic increase in his net worth. Forbes now estimates Musk’s fortune at $749 billion.
Previously, Forbes had applied a 50% discount to these stock options after the Delaware Court of Chancery ruled in 2024 that the 2018 award process was flawed due to Musk’s control over Tesla’s board. With the Supreme Court declaring that “rescission was an improper remedy,” the discount was removed, adding nearly $70 billion to Musk’s wealth.
Tesla remains the cornerstone of Musk’s fortune. His stock options combined with a 12% stake in the company bring his Tesla holdings to $338 billion, not including a separate pay package awarded in November that could yield up to $1 trillion if Tesla achieves its ambitious growth targets over the next decade.
Musk’s 42% stake in SpaceX is valued at about $336 billion, following a private tender offer that doubled the company’s estimated value since August. The private rocket company could be the asset that ultimately pushes Musk toward becoming the world’s first trillionaire, with a planned IPO in 2026 potentially valuing SpaceX at $1.5 trillion.
By comparison, Google cofounder Larry Page, currently the second-richest person globally, is estimated at $253 billion – half a trillion shy of Musk’s new record.