trillionaire – Dispatches From The Front

Elon Musk on Friday became the world’s first trillionaire after shares in his SpaceX rocket company soared during the biggest-ever stock market debut.

The Tesla and SpaceX founder comfortably cemented his status as the world’s richest man, with his total net worth standing at $1.11tn (£828bn) according to the Bloomberg rich list.

It came as the rocket, telecommunications, and artificial intelligence (AI) company listed on the Nasdaq stock exchange with a value of $2.2tn.

The company said its shares would be offered at $135 each, but trading opened at $150 and briefly reached $176.50 in a show of investor enthusiasm for potential business related to space and companies associated with Musk.

Elon Musk’s sprawling empire — spanning everything from electric vehicles and social media to space rockets and miniature brain implants — may soon make him the world’s first trillionaire.

Musk’s business success has made him one of the most influential — and controversial — people in the world. The Tesla boss is already the richest person on the planet, with a fortune estimated at nearly $250 billion.

Now, Musk could become the world’s first trillionaire, a milestone that Informa Connect Academy says he’s on track to hit by 2027.

Informa notes that Musk’s net worth has been growing rapidly at an average rate of 110% per year, making him the “clear favorite” to hit the $1 trillion first.

Musk does face competition though.

Tag: trillionaire

Elon Musk becomes world’s first trillionaire as SpaceX soars in stock market debut | BBC News