New Delhi, December 21 (IANS). There has been a big jump in the net worth of Tesla and SpaceX CEO Elon Musk. A US court reinstated Tesla’s stock options, which are worth about $139 billion. After this, his total wealth has increased to around $750 billion.
According to the Forbes billionaires list, this development has brought Musk closer to becoming the world’s first trillionaire.
Earlier, the Delaware Supreme Court of America re-validated Elon Musk’s salary package given by Tesla in the year 2018. This overturned a lower court ruling that had rejected it as “implausible”. The court said in its 49-page order that if this package was stopped completely, Musk would not have received any money for his hard work and time for the last 6 years.
This package of 2018 is worth about $ 139 billion according to the current price of Tesla shares. If Elon Musk exercises all the share options under this package, his stake in Tesla will increase from about 12.4 percent to 18.1 percent.
In the 2018 pay deal, Musk was given an option to buy about 304 million shares at a discounted price, provided Tesla met certain targets. Tesla’s board had earlier warned that if his salary was interrupted, Elon Musk could leave the company.
Let us tell you that Musk is the richest person in the world and he is also leading the SpaceX rocket venture. This week, Elon Musk became the first person in the world whose wealth exceeded $600 billion. According to the report, SpaceX is valued at around $800 billion, increasing Elon Musk’s wealth by $168 billion to around $677 billion.
SpaceX is preparing to launch an IPO next year, in which the company’s valuation can be estimated at around $1.5 trillion. At the same time, the value of Elon Musk’s 12 percent stake in electric vehicle company Tesla is about $ 197 billion, this does not include share options.
Apart from this, Elon Musk’s company XAI Holdings is also in talks for new investment, where the valuation of the company is said to be around $230 billion. Elon Musk holds a 53 percent stake in XAI Holdings, which is valued at around $60 billion.
–IANS
AS/