Elon Musk’s net worth has surged to a record $749 billion, making him the first individual in history to surpass the $700 billion mark, according to Forbes’ Billionaire Index. The sharp increase followed a Delaware Supreme Court ruling that reinstated Musk’s previously annulled stock-based compensation package at Tesla, valued at $139 billion. The 2018 pay plan, once deemed excessive by a lower court, was restored after the Supreme Court found the earlier decision unjust.

The ruling comes as Tesla’s shareholders recently approved a separate trillion-dollar compensation plan for Musk, the largest in corporate history. Investors have expressed confidence in Musk’s vision to transform Tesla from an electric vehicle manufacturer into a leader in artificial intelligence and robotics. Reports suggesting that SpaceX may soon go public also contributed to the rapid rise in Musk’s wealth.

Musk’s fortune now exceeds that of Google co-founder Larry Page by roughly $500 billion, underscoring his dominance in both the technology and space industries.