It seems that this question has no final answer yet. Although the recent models were claiming that no star bigger than 100-150 solar masses can exist, there is evidence that a star close to 300 solar masses exists in the Large Magellanic Cloud. One star, R136a1 (from the young cluster RMC 136a or R136), is considered to have a mass ~265 solar masses (with a birthweight close to 320 solar masses).
More on ESO’s announcement (eso1030) & the paper (2010arXiv1007.3284C / Crowther P.A. et al, The R136 star cluster hosts several stars whose individual masses greatly exceed the accepted 150Msolar stellar mass limit, MNRAS, 408, p 731, 2010)