The wealth of the world's richest person, Elon Musk, has created a new record. His net worth has reached $749 billion, which is now more than the combined market value of India's four largest companies Reliance Industries, HDFC Bank, Bharti Airtel and Tata Consultancy Services. After a big decision of the court late on Friday night, there was a sudden jump in his wealth.
The sharp increase in Musk's wealth happened because the Delaware Supreme Court reinstated his Tesla stock options package. The price of this package is said to be around 139 billion dollars. This package was prepared in 2018 and was considered one of the largest corporate pay plans in history. Last year, the lower court had canceled it, calling it unfair. But the Supreme Court considered it wrong and completely reinstated it. This decision is not only a legal victory for Musk but also shows his influence and confidence in the market. With this, his wealth jumped by billions of dollars in a single day.
Musk has achieved many achievements in the last few months. He has become the first person whose net worth reached above $600 billion. The possible listing of SpaceX has also further strengthened their valuation. In November, Tesla shareholders approved a massive $1 trillion compensation package, bolstering its plans to push the company into the AI and robotics sector. His growing wealth has left even Google co-founder Larry Page far behind. According to Forbes, Musk is ahead of him by about 500 billion dollars.
Elon Musk's success did not happen overnight. In 1995, he started a company named Zip2 which was later sold for $307 million. After this, X.com was started which later became PayPal and in 2002 eBay bought it for 1.5 billion dollars. Then he started SpaceX and joined Tesla in 2004 and became CEO in 2008. After this, companies like Neuralink and The Boring Company were started. In 2022, he bought Twitter for $44 billion and named it X, which is now considered his biggest bet in the field of social media.
