21st December 2025 – (Delaware) Elon Musk has become the first individual in history to be valued at $700 billion and beyond, just days after crossing the $600 billion threshold. His wealth surged on Friday after the Delaware Supreme Court reinstated a mammoth Tesla stock options award, previously voided by a lower court, that is now worth approximately $139 billion. Forbes now estimates Musk’s fortune at a record $749 billion following his successful appeal.
Forbes had applied a 50% discount to the contested options since January 2024, when the Delaware Court of Chancery ruled that the 2018 award process was unfair due to Musk’s influence over Tesla’s board. With the Supreme Court ruling that rescinding the options “was an improper remedy”, Forbes removed the discount, lifting its estimate of Musk’s net worth by $69.5 billion.
The decision returns Tesla to the top of Musk’s asset portfolio. Beyond the options, he holds around 12% of Tesla’s common stock, valued at $199 billion, bringing the total value of his Tesla holdings to about $338 billion. This excludes a separate, unprecedented compensation package granted in November, which could ultimately deliver up to $1 trillion in additional stock before taxes and vesting costs, contingent on ultra-ambitious performance targets — including increasing Tesla’s market capitalisation more than eightfold over the next decade.
Musk’s second-largest asset is his stake in SpaceX. His estimated 42% holding is valued at roughly $336 billion, based on a private tender this month that priced the company at $800 billion, double its August valuation. Despite Tesla’s prominence, many observers believe SpaceX could be the vehicle that propels Musk to become the world’s first trillionaire, with an IPO reportedly targeted for 2026 that could value the rocket maker at about $1.5 trillion.
For context, Musk’s lead over the rest of the rich list is extraordinary. Google co-founder Larry Page, the world’s second-wealthiest person, is estimated to be worth $253 billion — more than $500 billion behind Musk.
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