Elon Musk Is The World’s First Billionaire

There are thousands billions worldwide. But there is only one trillion.

Elon Musk he became the first person to accumulate more than $1,000,000,000,000—that’s 12 zeros—after his shares. rocket company Images of SpaceX debut on the Nasdaq Stock Exchange on Friday.

SpaceX’s initial public offering on Thursday valued the company at about $1.8 trillion, up from its most recent valuation of $1.25 trillion. After shares opened at $150 on Friday morning in New York and continued to grow, SpaceX’s market cap reached nearly $2.2 trillion.

Between Musk’s major ownership in SpaceX, his Tesla car company, and several other businesses, his net worth has grown enough to make him a multi-billionaire, according to Bloomberg and Forbeswho do a lot of research to find out the richest people in the world. In 2024, his net worth will exceed $400 billion, according to Bloomberg – which means he has nearly tripled in less than two years. (Important caveat: Musk does not have $1 trillion in his bank accounts. Most of his wealth is in shares, some of which are prohibited from selling soon. promised to give half of his wealth in the end.)

He remains an underrated figure in many circles, including his efforts last year breach of US government regulations and his years of fame and to allow comments against his presence on social media. Opposing the IPO, one group of activists added a large image Musk in Times Square in New York this week.

In addition to Musk, Forbes estimates the fortunes of 3,350 people it considers self-made billionaires, from Amazon founder Jeff Bezos near the top to musician Dr. Dre down. Bloomberg, meanwhile, tracks the 500 richest billionaires.

Musk is now three times richer than his closest competitor, the founder of Google, according to estimates. Upcoming IPOs for generative AI labs OpenAI and Anthropic they’ll build a few more billions, but they won’t bring anyone close to Musk’s approach. Retailers buy SpaceX shares now They certainly don’t get rich quickly, and neither do people located near the xAI data center.

As long as SpaceX continues to successfully transport people, cargo, and data between Earth and space while facing little competition, Musk will remain in his contract.