Elon Musk, the world’s richest man, is set to significantly increase his fortune following a landmark ruling by the Delaware Supreme Court. After a protracted seven-year legal battle, the court on Friday cleared the way for the tech billionaire to finally receive his contested 2018 Tesla CEO pay package. The decision overturns a prior ruling by Chancellor Kathaleen McCormick of Delaware’s Court of Chancery, which had held that Musk improperly influenced Tesla board members in the approval of the compensation plan.

In its judgment, the Supreme Court stated: “We reverse the Court of Chancery’s rescission remedy and award $1 in nominal damages,” effectively reinstating the long-disputed compensation package.

The $56 billion Tesla pay package, approved in 2018, was structured as a performance-based incentive to drive Tesla’s growth to unprecedented levels. However, the compensation plan was suspended after an investor, reportedly holding just nine shares of Tesla, successfully sued to block it in Delaware, where the company was incorporated at the time. The initial ruling against Musk sparked widespread debate over corporate governance standards and the independence of corporate boards when approving extraordinary executive compensation.

In a unanimous decision, the five-judge appeals panel ruled that Chancellor McCormick erred in ordering a complete rescission of Musk’s pay package. The Supreme Court emphasized that “It is undisputed that Musk fully performed under the 2018 grant, and Tesla and its stockholders were rewarded for his work.” The judges further noted that canceling the compensation entirely would “leave Musk uncompensated for his time and efforts over a period of six years,” despite the value he created for the company during that period.

Although the compensation plan was originally valued at approximately $56 billion when approved by Tesla’s board, its current worth has soared alongside the company’s growth. The Delaware Supreme Court concluded that Elon Musk is now entitled to a stock-based compensation package valued at about $140 billion, reflecting Tesla’s dramatic rise since 2018.

This massive payout is expected to further amplify Musk’s already extraordinary wealth. His net worth has reportedly reached historic levels, surpassing the $500 billion mark for the first time. According to Forbes Real-Time Billionaires, Musk’s wealth currently stands at $679.4 billion, firmly entrenching him as the richest individual in the world. The reinstatement of the $140 billion Tesla pay package is expected to widen the gap between Musk and other global billionaires even further.