New Delhi: Billionaire Elon Musk has secured a significant win in court, with the Delaware Supreme Court overturning a 2024 ruling that had denied him a $55 billion pay package granted by Tesla in 2018. The package was designed as a performance-based incentive for Musk’s role in taking Tesla to new heights.
The dispute arose when some shareholders challenged the package in court, claiming it was excessive and that the board had acted under Musk’s influence. In 2024, a lower Delaware court had sided with the shareholders and nullified the package, denying Musk the payout—which today would be valued at $139 billion.
In its 49-page decision, the Delaware Supreme Court cited multiple errors in the 2024 ruling and reinstated Musk’s 2018 package. The package was originally tied to Tesla’s performance milestones, rewarding Musk for transformative growth and innovation.
Musk’s Net Worth and Future Prospects:
Tesla has also approved a new pay package for Musk this year, potentially worth up to $1 trillion. With a current net worth of $642 billion, Musk remains the world’s richest person, having gained $210 billion this year alone.
Meanwhile, Musk’s company SpaceX is preparing for the world’s largest IPO next year, with a projected valuation exceeding $1 trillion, potentially making Musk the first-ever trilineaire in history.
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