Key Highlights
- This move also restored Musk’s 2018 compensation package, once valued at $56 billion, which a lower court had previously deemed “unfathomable.” The Supreme Court ruled that the 2024 decision to rescind the pay package was both improper and unfair to Musk.
- This ruling comes shortly after Musk became the first individual to exceed a net worth of $600 billion, following speculation that his aerospace venture, SpaceX, was set to go public.
- In November, Tesla shareholders approved a record-breaking $1 trillion pay plan for Musk, endorsing his vision to transform the electric vehicle manufacturer into a leader in artificial intelligence and robotics.
- Also Read: Elon Musk Says He Warned Donald Trump To Drop Tariffs Over Fears of Job Losses: ‘President Loves Tariffs, I’ve Tried To Dissuade Him’ According to Forbes’ billionaires index, Musk’s wealth now surpasses that of Google co-founder Larry Page, the world’s second-richest person, by nearly $500 billion.
- Why It Matters: The reinstatement of Musk’s stock options and compensation package by the Delaware Supreme Court marks a significant victory for the Tesla CEO.