The world’s richest person, Elon Musk has made a record that no one had made before. Following SpaceX’s record-breaking IPO, Musk’s net worth has crossed $1 trillion. With this, Musk has become the world’s first trillionaire.
According to a Reuters report, SpaceX raised $75 billion through its IPO. After this historic listing, the company’s valuation increased, taking Musk’s net worth to more than $1.1 trillion. Before the IPO, Forbes estimated his wealth at approximately $780 billion.
**Wealth more than the GDP of 21 countries**
Musk’s wealth has increased so much that if compared with the economies of countries, it is more than the economies of many countries. Currently, only 21 countries in the world have a GDP of more than $1 trillion. Accordingly, Elon Musk’s personal wealth is now equal to the world’s 22nd largest economy.
**SpaceX: The main reason for the increase in wealth**
The largest portion of Musk’s wealth comes from his stake in SpaceX. Reports suggest that his stake in the company is worth around $866 billion. Apart from this, he also has major stake in electric car company Tesla, social media platform X (earlier Twitter), Neuralink and The Boring Company.
**Starting with Tesla**
South Africa-born 54-year-old Elon Musk has made a name for himself around the world through Tesla and SpaceX. Tesla revolutionized the world of electric vehicles, while SpaceX has given a new direction to the private space sector.
**Investors trust ‘Allen Premium’**
Market experts have observed that investors are betting not only on the companies but also on Musk’s vision. As a result, the valuation of his companies is known as the “Allen Premium”. However, critics believe that having such huge economic and business power in the hands of a single person raises many questions. Despite this, investors’ confidence in Musk remains unwavering.
for the first time in history
The world has seen many billionaires, but Elon Musk has become the first person to attain the status of “trillionaire”. This achievement is an important milestone not only in the world of business but also in global economic history.
