Elon Musk, CEO of Tesla, SpaceX, and
On December 19, the court unanimously reinstated Musk’s 2018 Tesla compensation package, which is worth approximately $139 billion in stock options based on current prices. The ruling overturned a lower court’s 2024 ruling, which had said that voiding the award entirely would leave Musk “with no compensation for his time and efforts over six years.” The package grants options for ~304 million shares upon completion of milestones, increasing his stake in Tesla from ~12.4% to 18.1%.
The decision came after several years of legal battle and was again approved by shareholders. Tesla’s board had warned of Musk leaving the company without proper compensation.
The increase builds on prior gains: SpaceX’s recent tender offer valued the company at $800 billion (up from $400 billion previously), adding ~$168 billion to Musk’s wealth through his ~42% stake. According to reports, SpaceX is looking at an IPO in 2026 at a valuation of $1.5 trillion. Musk’s ~12-13% stake in Tesla (excluding options) is worth ~$197 billion, while his majority stake in xAI—amid talks of a $15 billion funding at a ~$230 billion valuation—adds considerable value.
Analysts say Musk, who already this month became the first person with a net worth of more than $600 billion, is now closer than ever to becoming the world’s first trillionaire, driven by breakthroughs in EVs, space and AI.
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