WILMINGTON, Del. — Elon Musk net worth surged past $700 billion after the Delaware Supreme Court reinstated his 2018 Tesla stock-option package Friday, reviving a pay award that had been wiped out by a lower-court ruling. The restored options are worth about $139 billion at current prices and pushed Elon Musk net worth to an estimated $749 billion on Forbes’ billionaire list, according to Reuters, Dec. 20, 2025.
In a 49-page decision decided Dec. 19, the Delaware Supreme Court opinion reinstated the 2018 compensation plan while awarding the shareholder who sued nominal damages. The court wrote that “total rescission leaves Musk uncompensated for his time and efforts over a period of six years,” concluding that wiping out the entire deal could not fairly restore the parties to their pre-2018 positions.
What the ruling means for Elon Musk net worth
For Musk, the decision is about more than a paper jump in Elon Musk net worth. It also strengthens his grip on Tesla, the company that anchors most of his fortune. In a separate account of the ruling, Reuters reported the options cover about 304 million shares — roughly 9% of Tesla’s outstanding stock — and could lift Musk’s stake from about 12.4% to 18.1% if he exercises them.
How the Tesla pay fight got here
The 2018 plan was pitched as a moonshot incentive: no salary, no cash bonus, and stock options tied to aggressive performance targets. When shareholders first approved it, Reuters reported it was valued at about $2.6 billion — a record at the time — before ballooning as Tesla’s market value soared.
In January 2024, Delaware Chancellor Kathaleen St. Jude McCormick struck the package down, calling it an “unfathomable sum” and criticizing the board’s process and disclosures, according to Reuters. Tesla shareholders later voted in June 2024 to reaffirm the package and move the company’s incorporation to Texas, Reuters reported. McCormick rejected that reset attempt later in 2024, setting up the appeal, Reuters reported.
The road to $1 trillion
The $700 billion mark is symbolic, but it sharpens attention on what comes next. The Associated Press reported Tesla’s board has floated another performance plan that could pay Musk up to $1 trillion over the next decade if Tesla’s value multiplies, and shareholders approved it last month (AP report).
For now, the Delaware ruling is the catalyst — and a reminder that Elon Musk net worth remains, in large part, a bet on Tesla’s future. As Forbes noted, stock-based awards balloon when markets buy into a high-growth story. Whether Elon Musk net worth keeps climbing will hinge less on courtrooms than on Tesla’s ability to hit ambitious targets — and on whether investors keep rewarding that vision.
