Elon Musk becomes the world’s first trillionaire as SpaceX begins trading

Elon Musk just became the world’s first trillionaire.

with SpaceX SpaceX opened on the Nasdaq at $150 a share on Friday, and the CEO of SpaceX and Tesla now have a stake in SpaceX worth more than $766 billion. Along with him Tesla Musk’s stake is worth $280 billion, and Musk’s net worth from the two companies as of Friday was about $1.05 trillion.

The SpaceX IPO added more than $180 billion to Musk’s wealth. His wealth now amounts to more than the five richest billionaires in the world combined. His personal net worth is greater than the national GDP of Taiwan, Ireland, or Sweden.

Musk’s coronation as the first person in history with a fortune of one trillion dollars is likely to increase the controversy surrounding wealth inequality and the rise in power of America’s richest technology founders. Besides creating the world’s first trillionaire, SpaceX’s IPO also created thousands of new millionaires and many new billionaires among employees and executives who own shares.

SpaceX shares rose nearly 20% on Friday to close just above $160 a share. This values ​​the company at more than $2 trillion.

Tesla shares rose nearly 2% to roughly $406 per share.

Musk was first declared a billionaire by Bloomberg and Forbes in 2012, with the latter estimating his net worth at $2.4 billion at the time.

His fortune reached $20 billion in 2019 and rose dramatically the following year after Tesla’s stock split, making Musk the fifth billionaire in the world — worth more than $100 billion — according to Forbes estimates. In the six years that followed, Musk’s net worth increased nearly tenfold.

His wealth has risen at a rate unmatched even by the holders of the title of “world’s richest person” in the previous decade: Amazon founder Jeff Bezos, Microsoft co-founder Bill Gates, and Bernard Arnault, head of the luxury empire LVMH.

Larry Page, co-founder of Google, whose fortune is currently estimated at $295 billion, according to Forbes, He ranks second by a large margin among the richest people in the world.

Page follows a second Google co-founder, Sergey Brin; Both Bezos and Oracle founder Larry Ellison are worth more than $200 billion as of Friday, according to Forbes.

However, Gates’ fortune would have been $464 billion had he not donated so much to charity, according to Forbes estimates.