Overview
- Musk can now exercise 303,960,630 Tesla options at a $23.33 strike price, representing a theoretical gain of roughly $140 billion at recent market levels.
- The high court left intact findings that the 2018 award process was flawed, but it rejected voiding the entire grant as the appropriate remedy.
- Because the plaintiff did not seek damages, the court awarded a symbolic $1 and left Tesla responsible for the prevailing side’s attorneys’ fees.
- Tesla’s provisional August offer of about 96 million replacement shares effectively falls away, while a separate shareholder-approved plan from November—potentially worth up to $1 trillion—remains in place.
- If all options are exercised, Musk’s stake could rise from roughly 12.4% to about 18.1%, increasing dilution for other shareholders, and Forbes now estimates his net worth at about $749 billion.