Musk may drop below Bezos in world’s richest list after court rules he cannot keep $56bn Tesla payout

Elon Musk may lose his position as the world’s richest person after a US judge ordered him to return a corporate payout worth nearly $56 billion.

A court in Delaware ruled on Tuesday that Mr Musk could not keep the massive pay package he received from Tesla, the electric car company that he runs.

Shareholders had sued the SpaceX and Neuralink boss alleging that the payout had been effectively ordered by Mr Musk himself, and approved by board members who were not truly independent of him.

If implemented, the ruling would slash Mr Musk’s estimated $210bn fortune and probably drop him below Amazon founder Jeff Bezos and French fashion baron Bernard Arnault in the rankings of Earth’s wealthiest humans.

This story is breaking and will be updated.

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