WASHINGTON, Dec 21 — United States (US) businessman Elon Musk has become the first person in history whose net worth has surpassed US$700 billion (RM2.8 trillion), Sputnik/RIA Novosti reported, citing a Forbes magazine report.

Musk's fortune increased after the Delaware Supreme Court overturned a lower court's ruling invalidating Musk's 2018 Tesla stock option package, now valued at US$139 billion.

Forbes estimates that after successfully appealing this ruling, Musk's net worth has reached a record US$749 billion, the magazine said.

Forbes previously named Musk the first person with a net worth exceeding US$600 billion after SpaceX announced a public offering that valued the company at US$800 billion.

As recently as March 2020, Musk's net worth was estimated at US$24.6 billion. Then, in January 2021, he became the richest person on the planet, surpassing the US$200 billion and US$300 billion marks that same year. In 2024, Musk's net worth surpassed US$400 billion and US$500 billion.

The only other person besides Musk whose net worth has reached the US$300 billion and US$400 billion marks is Oracle co-founder Larry Ellison. — Bernama-Sputnik/RIA Novosti