Elon Musk has just become the world's first trillionaire. On Friday, his space company SpaceX debuted on the Nasdaq and it was the largest stock exchange debut in history. The opening price was $150. per share, meaning his stake in the company is worth over $766 billion. Combined with his $280 billion stake in Tesla. Musk's net worth from both companies is about $1.05 trillion as of Friday. – writes CNBC.
Thanks to the SpaceX IPO, Musk's fortune increased by over $180 billion. His net worth is now worth more than the next five richest billionaires in the world combined. His net worth is greater than the GDP of Taiwan, Ireland or Sweden, notes CNBC.
In addition to creating the world's first trillionaire, the SpaceX IPO also created thousands of new millionaires and several billionaires among employees and executives who owned shares.
SpaceX shares were trading up about 26% on Friday evening. higher, reaching a price of about $170. per piece. This values the company at over $2 trillion.
Tesla shares rose about 1%, reaching a price of about $400. per piece.
Musk's coronation as the first person in history to be worth $1 trillion will likely reignite the debate over wealth inequality and the rise of America's richest tech founders.
Elon Musk's fortune. This is how it grew over the years
Bloomberg and Forbes first declared Musk a billionaire in 2012, with the latter estimating his net worth at $2.4 billion at the time.
His fortune reached $20 billion. in 2019 and skyrocketed the following year after Tesla's stock split, making Musk the fifth person in the world with a fortune worth over $100 billion. — according to Forbes estimates. In the six years since then, Musk's net worth has increased approximately tenfold.
His fortune has grown at a rate incomparable even to previous holders of the title of the world's richest people over the last decade: Jeff Bezos, Bill Gates and Bernard Arnault. Larry Page, whose fortune is currently estimated at $295 billion according to Forbes, is a distant second in the ranking of the world's richest people.
The next places are taken by Sergey Brin, Bezos and Larry Ellison, with a fortune exceeding $200 billion as of Friday, according to Forbes. However, Gates' fortune would be as much as $464 billion if he did not devote so much of his wealth to philanthropic purposes, according to Forbes estimates.
