SpaceX IPO makes Elon Musk the world’s first trillionaire

SpaceX IPO makes Elon Musk the world’s first trillionaire

Few business leaders have been as deeply embedded in popular culture as Elon Musk, the ambitious entrepreneur who has become a central figure in internet culture and amassed a fortune that has made him the world’s first ​trillionaire.

At a time when concerns about inequality are high and public attitudes toward the ultra-wealthy have soured, opens new tab, Musk has managed to retain a loyal following despite his stratospheric net worth and without the ‌folksy persona that endeared other tycoons such as Warren Buffett to the masses.

While admirers view Musk’s no-filter style as part of his appeal, critics have accused him of wielding oligarch-like power, raised concerns about governance at his companies and objected to his increasingly partisan political interventions.

Still, SpaceX, the sprawling rocket, satellite and AI company that together with electric-car maker Tesla form the center of Musk’s empire, raised a record $75 billion in its initial public offering on Thursday, highlighting investor enthusiasm for his business ventures. Prior to the share sale, Forbes pegged his net worth ​at roughly $780 billion, far ahead of the man next in line, Alphabet co-founder Larry Page.