SpaceX IPO Means Elon Musk Is Now The World’s First Trillionaire

At a time when the growing inequality between the haves and have-nots continues to be an unsolved problem, and following the IPO of his rocket and satellite company SpaceX, Elon Musk has become the world’s first trillionaire.

Reuters reports that SpaceX raised a record $75 billion in its initial public offering earlier this week, with Forbes having previously suggested that Musk’s net worth was around $780 billion.

Larry Page, Google co-founder, is the second richest man on the planet.

“The second richest person has been hovering around $300 billion, so about less than one-third of what Musk can potentially be worth ​tomorrow,” said Matt Durot, deputy editor at Forbes Wealth. “And only one other person, (Oracle founder) Larry Ellison, has ever been worth $400 billion.”

Musk’s wealth is now very much tied to SpaceX, Reuters adds, noting that he holds a stake worth roughly $866 billion.

While admirers view Musk’s no-filter style as part of his appeal, critics have accused him of wielding oligarch-like power, raised concerns about governance at his companies and objected to his increasingly partisan political interventions.