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Elon Musk Becomes the World's First Trillionaire
Elon Musk has officially become the world's first trillionaire following a 20% surge in SpaceX share price after its IPO.
What: SpaceX shares rose 20% from their initial offering price of $135, pushing Elon Musk's net worth past the $1 trillion mark. His assets now represent approximately 3% of the total US gross domestic product.
Why it matters: This milestone reflects the massive capital concentration in the aerospace and private space exploration sector, dwarfing historical wealth benchmarks and signaling the growing scale of vertically integrated tech giants.
Original article
Elon Musk became the world's first trillionaire on Friday after shares of SpaceX rose 20% from their initial public offering price of $135. Musk was already the world's richest person, claiming the title from Jeff Bezos in 2021 with a net worth of over $185 billion. His worth is now equivalent to more than 3% of the US gross domestic product. It is five million times as large as that of the typical US family.
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