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Elon Musk Hits $700 Billion Net Worth, Surpasses Combined Wealth Of Next Three Richest People
Elon Musk Hits $700 Billion Net Worth, Surpasses Combined Wealth Of Next Three Richest People
Elon Musk Net Worth: Tech billionaire Elon Musk continues to accumulate record-breaking wealth unabated and has created history by becoming the first individual ever to cross a net worth of $700 billion. His wealth surged after a US court reinstated his long-pending compensation package linked to electric-vehicle maker Tesla, according to Reuters. Following the ruling, Musk's estimated net worth jumped to about $749 billion, firmly placing him at the top of the global rich list.
The scale of Musk's lead over other billionaires is unprecedented. The second-richest person in the world, Larry Page, has a net worth of around $252.6 billion, while third-ranked Larry Ellison is worth about $242.7 billion. This means Musk is richer by nearly $500 billion than the person just below him. In simple terms, Musk's net worth is equal to the combined net worth of the next three richest people in the list – Larry Page, co-founder of Google, Larry Ellison, founder of Oracle, and Jeff Bezos, founder of Amazon.
This extraordinary jump in wealth came after the Delaware Supreme Court restored stock options from Musk's 2018 pay package that had earlier been cancelled by a lower court. Those options are now valued at roughly $139 billion, far higher than the original estimate of $56 billion when the deal was first approved. The court said the earlier ruling that scrapped the package was unfair and wrong, reversing a 2024 judgment that had described the deal as “unfathomable".
Musk's wealth rose so sharply mainly because his compensation is almost entirely linked to company performance rather than salary. As Tesla's market value expanded dramatically over the years, the value of Musk's stock options multiplied. Once the court restored these options, the impact on his net worth was immediate and massive. Unlike many other billionaires, Musk's fortune is heavily concentrated in shares, which makes it more volatile but also capable of extreme upside.
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Source: News18
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