US EditionElon Musk becomes first person worth $700 billion following pay package ruling
Elon Musk’s pay package approval boosted his net worth to $700 billion, making him the first person to reach this milestone in the United States.
- Earlier this year SoftBank Group is racing to close a $22.5 billion funding commitment to OpenAI, which has not yet received the remaining funds under the contract, sources said.
- OpenAI aims to build 30 gigawatts of compute at a cost of $1.4 trillion, with its valuation approaching nearly $900 billion, sources said.
- Masayoshi Son sold SoftBank's entire $5.8 billion Nvidia stake and offloaded $4.8 billion of its T-Mobile US stake to raise cash, while SoftBank recently expanded margin loan capacity to $11.5 billion.
- Directing investment managers at SoftBank's Vision Fund toward the OpenAI deal, SoftBank plans to list PayPay, aiming to raise more than $20 billion next year.
- Amid a global AI buildout, SoftBank Group's scramble offers a window into strain faced by dealmakers financing $500 billion Stargate and OpenAI's nearly $900 billion valuation, sources said.
94 Articles
94 Articles
Elon Musk further secures place as 'world's richest man' amid judge's U-turn decision on massive pay package: 'The damage is done'
Elon Musk further secured his position as the world's richest man after a court decision reversed an earlier ruling on his massive Tesla pay package. On December 19, the Delaware Supreme Court reinstated Musk's 2018 compensation deal after a years-long legal challenge. According to the Wall Street Journal, the package has grown in value to $139 billion, making it the largest executive pay package in corporate history. The Delaware Supreme Court …
Elon Musk Net Worth Hits $700 Billion After Tesla Court Ruling
Source: BRENDAN SMIALOWSKI / Getty Just days after becoming the first individual ever valued at $600 billion, Elon Musk crossed another historic threshold on Friday, becoming the first person with a net worth of $700 billion. The surge followed a decision by the Delaware Supreme Court to overturn a lower court ruling that had invalidated a Tesla stock-option award now valued at $139 billion. After Musk successfully appealed the case, Forbes esti…
Elon Musk, director general of Tesla, spent about 749 billion dollars last night, after the Supreme Court of Delaware restored a package of options for actions worth $139 billion, according to Forbes's billionaires classification. So Musk became the first person in history who estimated over 700 billion dollars.
According to calculations by the magazine "Forbes", Tesla chief Musk has a net asset of about 749 billion dollars. This is shown by the online published billionaire list of the magazine, which Musk is currently leading.
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