Elon Musk becomes world’s first trillionaire after SpaceX shares jump on stock market debut – business live
The jump in SpaceX’s share price today, as its floats on the US stock market, means Elon Musk has become the world’s first trillionaire.
His 38% stake in SpaceX is now worth around $800bn, after they jumped 20% in early trading, with the whole company’s valuation now over $2tn.
Musk also owns just over 10% of Tesla, a stake worth $165bn, plus options to acquire another nearly 8% stake, worth $114bn according to Forbes’s calculations.
Forbes had calculated Musk’s wealth at around $980bn before SpaceX’s shares started trading, so it would only have taken a small rise in the share price today to hit the one-trillion dollar figure.
Musk also owns stakes in his brain interface startup Neuralink and his tunneling firm Boring Company, plus has wealth from previous Tesla share sales.
Reminder: Oxfam has warned that the jump in Musk’s wealth to over a trillion dollars marks ‘a dark day for democracy’.
Originally published on www.theguardian.com — View original
