Catenaa, Friday, December 06, 2024- Elon Musk’s wealth surged to $353 billion, increasing by $91 billion in the past month, despite a Delaware court invalidating his $100 billion Tesla pay package for the second time.
The ruling doesn’t faze Musk, as Tesla shares rose 40% after Donald Trump’s election victory. Investors anticipate regulatory and federal spending decisions favoring Musk’s ventures, including Tesla and SpaceX.
The court upheld its earlier dismissal of the Tesla compensation deal, citing inadequate shareholder disclosure. Tesla plans to appeal, warning of potential consequences like higher costs if the package isn’t reinstated. Meanwhile, Musk remains influential, co-leading a federal efficiency initiative with Vivek Ramaswamy, further strengthening ties with the incoming Trump administration.
