The world’s first trillionaire is Elon Musk as he surges to the top of the list of valuations of his major holdings, including Tesla and SpaceX.
The listing of SpaceX on the Nasdaq has seen the company’s shares open at $150 on Friday, putting Musk’s ownership around $766 billion.
His net worth has just passed the $1 trillion threshold, at $280 billion from his Tesla holdings, there is a total of roughly $1.05 trillion.
The SpaceX listing alone made over $180 billion more for Musk’s fortune, a figure considerably greater than what other billionaires throughout the world have on their accounts.
He now has more net worth than the next five richest people on earth.
It is also bigger than the GDP of some countries, such as Taiwan, Ireland and Sweden.
The shares of SpaceX are believed to have jumped 20 per cent or more on Friday, ending at just above $160 a share, making the company worth more than $2 trillion.
The shares of Tesla also surged upward, gaining nearly 2 per cent at about $406 a share, further bolstering Musk’s financial position.
The billionaire was first identified by Bloomberg and Forbes in 2012 and they put his net worth at about $2.4 billion.
His fortune increased over the years, reaching $20 billion in 2019 and skyrocketing in 2020 with a sharp rise in the value of Tesla’s stock.
At the time, he was one of the world’s few centibillionaires, worth more than $100 billion.
His wealth has grown at a record pace since then, even outpacing that of longtime giants like Jeff Bezos, Bill Gates and Bernard Arnault.
Others, like Larry Page, Sergey Brin and Larry Ellison, each have riches exceeding $200 billion, but they are still trailing a long way behind.
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