Elon Musk made history by becoming the first person in the world whose wealth exceeded the trillion-dollar mark, following the initial public offering of SpaceX and the start of trading of its shares on the US Nasdaq exchange.
SpaceX stock witnessed a strong start during its first trading sessions, opening at $150 per share before rising later to close above the $160 level. This gave the company a market value exceeding $2 trillion, making it one of the largest listed companies globally.
This exceptional performance led to an increase in the market value of Musk's stake in SpaceX to more than $766 billion. When adding the value of his stake in Tesla, estimated at about $280 billion, his total wealth rose to approximately $1.05 trillion.
SpaceX Begins Trading Its Shares to Create the "First Trillionaire in History"
The listing of SpaceX is considered one of the biggest financial events in recent years, adding more than $180 billion to Musk's wealth in just about a day. This put him far ahead of his closest competitors on the list of the world's wealthiest people.
The gains were not limited to Musk alone, as the offering contributed to creating thousands of new millionaires and a number of billionaires among the company's employees and executives who own stakes in SpaceX.
A Historic Leap Reignites the Debate Over the Global Wealth Gap
This unprecedented achievement reignites the global debate about the widening wealth gap and the growing influence of big tech founders, especially with the continued rise of companies related to the space sector, artificial intelligence, and advanced technologies.
Musk entered the billionaires list more than a decade ago, but the rapid growth of Tesla and SpaceX pushed his wealth to record levels, making him the first person in history to reach the trillion-dollar club. This achievement reflects the scale of transformations witnessed by the global tech sector.
Musk Tops the Global Rich List by an Unprecedented Margin
Elon Musk's wealth has grown at an unprecedented pace, surpassing even those who held the title of "richest person in the world" over the past decade, including Jeff Bezos, founder of Amazon, Bill Gates, co-founder of Microsoft, and Bernard Arnault, head of the luxury goods group LVMH.
In second place on the world's rich list is Google co-founder Larry Page, with a wealth estimated at about $295 billion according to Forbes estimates, though he remains far behind Musk. He is followed in the ranking by the other Google co-founder, Sergey Brin, then Jeff Bezos, and Larry Ellison, founder of Oracle, with the wealth of each exceeding $200 billion.
However, Forbes estimates indicate that Bill Gates' wealth would have reached about $464 billion had he not allocated a large part of his wealth to charity and donations over the past years.
