STARBASE, Texas: A court decision restoring a long-disputed compensation package has propelled Elon Musk into uncharted territory, making him the first person to amass a net worth exceeding US$700 billion.

Musk's wealth jumped to $749 billion late on December 19, after the Delaware Supreme Court reinstated Tesla stock options valued at $139 billion that had been voided last year, according to Forbes' billionaires index.

The ruling restored Musk's 2018 pay package at Tesla, which was once valued at $56 billion before a lower court struck it down as "unfathomable." Late last week, the state's highest court said a 2024 decision rescinding the compensation had been improper and inequitable to Musk.

The ruling marks a dramatic reversal in a legal saga that has closely tracked Musk's rising fortune and influence. Earlier this week, Musk had already become the first individual to exceed $600 billion in net worth, driven by reports that his aerospace venture SpaceX was likely to pursue an initial public offering.

In November, Tesla shareholders separately approved a new compensation arrangement valued at up to $1 trillion — the most extensive corporate pay package in history — backing Musk's ambition to transform the electric vehicle maker into a leader in artificial intelligence and robotics.

The reinstated stock options sharply widened the gap between Musk and the rest of the world's wealthiest individuals. His fortune now exceeds that of Larry Page, the second-richest person globally, by nearly $500 billion, according to Forbes.