economy
Elon Musk becomes the world's first trillionaire after SpaceX's historic IPO
The SpaceX IPO has boosted Musk's paper wealth to more than $1,000,000,000,000 at a time when he is more hated -- and powerful -- than ever.
TL;DR
- Elon Musk is now the world's first trillionaire due to SpaceX's public markets debut.
- SpaceX's stock IPO priced at $135 per share, contributing significantly to Musk's wealth.
- Musk's total wealth, including his Tesla stake, now exceeds $1 trillion.
- His rise to trillionaire status occurs as he faces increased public dislike but also wields greater power.
- Musk funded Donald Trump's presidential campaign and led the "Department of Government Efficiency."
- Decisions like dismantling USAID have been linked to significant loss of life.
- Musk has a potential $1 trillion pay package from Tesla and can borrow against SpaceX shares.
- Musk holds over 80% voting control of SpaceX, allowing him to select the board and limit legal challenges.