A major milestone in wealth creation has reportedly been reached as Elon Musk becomes the first person in history to achieve a net worth exceeding $1 trillion, following SpaceX’s debut on the Nasdaq.
SpaceX opened trading at $150 per share on Friday, significantly increasing the value of Musk’s stake in the company. His holding in SpaceX is reportedly valued at more than $766 billion. Combined with his Tesla stake, estimated at $280 billion, Musk’s total net worth has reached approximately $1.05 trillion.
The SpaceX IPO is said to have added more than $180 billion to Musk’s fortune. Reports indicate that his wealth now exceeds the combined net worth of the next 5 richest individuals in the world. His personal fortune is also larger than the national GDP of countries such as Taiwan, Ireland, and Sweden.
The listing has renewed discussions around wealth concentration and the growing influence of leading technology entrepreneurs. Beyond Musk, the IPO reportedly created thousands of new millionaires and several new billionaires among SpaceX employees and executives holding company stock.
SpaceX shares gained around 20% during Friday’s trading session, closing above $160 per share and valuing the company at more than $2 trillion. Tesla shares also rose nearly 2% to approximately $406 per share.
Musk was first recognized as a billionaire by Bloomberg and Forbes in 2012, when Forbes estimated his net worth at $2.4 billion. His fortune reached $20 billion in 2019 and expanded rapidly in the years that followed, driven largely by Tesla’s growth.
According to reports, his wealth has grown at a pace unmatched by previous holders of the world’s richest person title, including Jeff Bezos, Bill Gates, and Bernard Arnault.
Current estimates place Google co-founder Larry Page in second position with a net worth of approximately $295 billion. He is followed by Sergey Brin, Jeff Bezos, and Oracle founder Larry Ellison, each reportedly worth more than $200 billion.
Reports also suggest that Bill Gates’ fortune could have reached approximately $464 billion had he not donated a substantial portion of his wealth to philanthropic causes.
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