Elon Musk becomes the world's first trillionaire with SpaceX's IPO
CBS News • • general
Key Points:
- Elon Musk has become the first person to surpass a $1 trillion net worth, driven by SpaceX's initial public offering (IPO) priced at $135 per share.
- Before the IPO, Musk's estimated net worth was $813 billion, significantly higher than the second-richest person, Larry Page, at $288 billion.
- Musk owns about 42% of SpaceX, and the IPO increased the value of his stake by approximately $192 billion, pushing his total net worth to $1.005 trillion.
- The IPO could also create wealth for around 4,400 SpaceX employees, many of whom may become millionaires once the stock begins trading.
- Musk's trillionaire status highlights growing wealth inequality, with his fortune exceeding the combined GDP of many countries and surpassing the wealth of nearly half the global population.