The eccentric and ambitious entrepreneur Elon Musk, a central figure of popular internet culture, amassed a fortune that has made him the world’s first trillionaire.
At a time when concerns about inequality are high, public figures are smeared with Epstein files, and public attitudes towards the ultra-wealthy have soured, Musk has managed to retain a loyal following despite his stratospheric net worth and without the folksy persona that endeared other tycoons such as Warren Buffett to the masses, reports Reuters.
Still, SpaceX, the sprawling rocket, satellite and AI company that together with electric-car maker Tesla form the center of Musk’s empire, raised a record $75 billion in its initial public offering on Thursday, highlighting investor enthusiasm for his business ventures. Prior to the share sale, Forbes pegged his net worth at roughly $780 billion, far ahead of the man next in line, Alphabet co-founder Larry Page.
“The second richest person has been hovering around $300 billion, so about less than one-third of what Musk can potentially be worth tomorrow,” said Matt Durot, deputy editor at Forbes Wealth. “And only one other person, (Oracle founder) Larry Ellison, has ever been worth $400 billion.”
Most of Musk's wealth now rests with SpaceX, where he holds a stake worth roughly $866 billion. Along with Tesla and the rest of his properties, his net worth will exceed $1.1 trillion when the stock begins trading Friday, according to Reuters calculations based on company filings. The tally includes stock components that would vest over time.
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