Musk Is the World’s First Trillionaire. Who Was the First Billionaire?
The New York Times • • business
Key Points:
- Elon Musk became the world's first trillionaire after SpaceX's initial public offering (IPO) valued the company at over $2 trillion, boosting his net worth to $1.2 trillion.
- The milestone highlights growing market enthusiasm for technology and artificial intelligence sectors.
- Celebrations included JPMorgan Chase executives planning a lavish dinner and a light show in New York City.
- Critics, including New York City Mayor Zohran Mamdani and Senator Elizabeth Warren, used the occasion to call for increased taxation on the ultra-wealthy and highlighted wealth inequality.