SpaceX IPO Makes Elon Musk World's First Trillionaire (reuters.com)
- Reference: 0183756994
- News link: https://news.slashdot.org/story/26/06/12/0612250/spacex-ipo-makes-elon-musk-worlds-first-trillionaire
- Source link: https://www.reuters.com/business/media-telecom/spacex-ipo-makes-elon-musk-worlds-first-trillionaire-2026-06-11/
> 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 [1]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, 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 [2]its initial public offering on Thursday, highlighting investor enthusiasm for his business ventures. Prior to the share sale, Forbes [3]pegged his net worth at roughly $780 billion, far ahead of the man next in line, Alphabet co-founder Larry Page.
>
> "The second richest person has been hovering around $300 billion, so about less than one-third of what Musk can potentially be worth tomorrow," said Matt Durot, deputy editor at Forbes Wealth. "And only one other person, (Oracle founder) Larry Ellison, has ever been worth $400 billion." Most of Musk's wealth now rests with SpaceX, where he holds a stake worth roughly $866 billion. Along with Tesla and the rest of his properties, his net worth will exceed $1.1 trillion when the stock begins trading Friday, according to Forbes and Reuters calculations based on company filings.
[1] https://www.reuters.com/business/media-telecom/spacex-ipo-makes-elon-musk-worlds-first-trillionaire-2026-06-11/
[2] https://slashdot.org/story/26/04/01/2043248/spacex-files-to-go-public
[3] https://www.forbes.com/real-time-billionaires/
Re: (Score:2)
>>> Musk has managed to retain a loyal following
>> Yes, pedros sure do like each other, very much.
> Is that the new slang term for Mexicans? Pedros?
> There are a lot of things to detest about Musk, but as far as I can see, being a pedophile is not among them.
True. He prefers to give it to women that are old enough to produce offspring. He wants to shotgun blast his progeny around the world, because he's arrogant enough to believe his DNA is special and a gift to be shared with humanity.
Even a trillion dollars can't buy self esteem (Score:2)
We certainly know $44B can't buy it, the price Musk paid for Twitter to prioritize his thirsty tweets. He's still the same awkward, bald kid looking for validation.
Re: (Score:2)
So that's kind of the problem. One of the most powerful men in human history is a insecure ketamine addicted asshole. That's going to have serious implications on your life and mine.
Re: (Score:2)
Among other things, Ebola and screwworm, which are spreading rapidly after Musk and doge destroyed US programs to fight them.
Re: (Score:2)
What does me being a bitter, resentful hater have to do with Musk's low self esteem?
Glad S&P 500 stood their ground unlike Nasdaq (Score:3)
having this money-losing company fast-tracked to be included in pension funds is crazy.
and Elon is such a bullshitter, spewing crap about how AI will make money obsolete and endless resources for everyone which continually aspiring to obtain more for himself.
I've heard he's scheming to get to $10 trillion USD.
Like A Crypto Billionaire (Score:3)
There's no doubt that Musk has near limitless funds at this point. But, "trillionaire" is just paper games. His estimated net worth may be a trillion plus. But, his ability to liquidate even a tiny majority of it is virtually zero. So, the trillionaire moniker is meaningless to me.
But, there's little doubt he could liquidate a few(?) billion.
Re: (Score:2)
?"There's no doubt that Musk has near limitless funds at this point. But, "trillionaire" is just paper games. His estimated net worth may be a trillion plus. But, his ability to liquidate even a tiny majority of it is virtually zero. So, the trillionaire moniker is meaningless to me."
Bingo. This is "paper worth", he doesn't have hundreds of billions or a trillion dollars. He has stock holdings that are currently valued at that. The value can (and does) change at any moment, both up and down. And if he s
Re: Like A Crypto Billionaire (Score:2)
The key problems are: (a) he will pay zero taxes on any lf it, (b) he is being giving voting control including stock he can't even sell, and (c) there will be no estate tax to ever balance private capital for the next generation.
He's coming for your 401k (Score:2)
Go watch Patrick Boyle's videos on this. They bypassed several rules related to stocks so that they can take SpaceX and cram it into otherwise extremely safe investments even though SpaceX is completely unprofitable and has no path to profitability. Again Patrick Boyle will explain to you in detail why that is the case.
That money has to come from somewhere and it's sure as fuck not going to come from the Epstein class. When you steal their money you rot in prison like Bernie Madoff and Elizabeth Holmes.
Well... (Score:3)
He doesn't have a trillion in dollars in a warehouse like Mcscrooge. It almost all stock in a company that has the most ridiculous over-valuation in history, not actual dollars taken away from other people. I don't mind him having such virtual wealth. What I do mind is the concentration of power and influence that comes with it. And the fact that he can borrow against this fortune, to live large without paying a dime in tax. (To be fair: he did at some point sell stock or pay dividend, and paid the taxes due to the tune of $10 billion)
Sickening (Score:2)
While I'm all for the American dream there needs to be a hard limit on how much money a single person is allowed to accumulate. It's madness.
Congrats to Mr. Musk (Score:5, Funny)
You're a role model for everyone.
Re: (Score:3)
> You're a role model for everyone.
While I would love to have "fuck you" levels of money, I can't really wrap my head around the idea of one individual having "fuck all of you, plus the Earth, and quite possibly the entire solar system if I get my way" money. That seems a step too far into greed to be enviable.
Re: Congrats to Mr. Musk (Score:2, Interesting)
A step? A single step? You donâ(TM)t think it was already a few steps too far when we decided that one individual was worth the same as 3,000 normal people? So much that they could spend $200,000 a day and not get any poorer? Now he apparently is as valuable to us as 3,000,000 ordinary people, and can spend a fifth of a billion dollars a day without losing any value. How is that only one step too far? I get that people around slashdot donâ(TM)t like that commy shit, but how on earth do they
Re: (Score:2)
> A step? A single step? You donâ(TM)t think it was already a few steps too far when we decided that one individual was worth the same as 3,000 normal people? So much that they could spend $200,000 a day and not get any poorer? Now he apparently is as valuable to us as 3,000,000 ordinary people, and can spend a fifth of a billion dollars a day without losing any value. How is that only one step too far? I get that people around slashdot donâ(TM)t like that commy shit, but how on earth do they think this outcome of capitalism is in any way justified?
In essence, I agree with you, and was using sarcasm to express it. It's been a step too far since long before Elon started piling corpses for profit with his government meddling, but getting hyperbolic about it just reinforces the rich worshipers' view that us poor people are just irrationally hate-filled idiots.
Re: (Score:1)
You think this is about greed?
Are you five years old?
Re: (Score:2)
> You think this is about greed?
> Are you five years old?
Everything in our political and economic system is about greed and how best to justify it. If you don't see the link between this story and greed, I question your ability to process information.
Re: Congrats to Mr. Musk (Score:2)
It's self-delusion, narcacissim, and greed.
Re: (Score:2)
The problem in my mind is what he could do with that money. He could buy every single newspaper in the world.
Re: (Score:2)
He doesn't have that kind of money. He is a trillionaire in value, but not a trillionaire in cash. He has to maintain ownership in his stock position to maintain control of the companies. He can borrow against those shares; that is famously how Steve Jobs financed his life with his $1 salary at Apple, but none of the banks will support him until the stock settles at it's price, and most of hte independent analysts say that SpaceX is at best worth $65/share, not $135.
Re: (Score:3)
Eh. I think he's a miserable c*** but oh well.
It'd be fun to be that rich, but it seems to do a number on peoples head to be that divorced from the grinding reality of regular folks.
Re: (Score:2)
Selling $7.85 shares of stock for $135 - it's the American* way!
(* offer only available for those who can buy their own regulations)
Alpha Smell (Score:1)
At least a role model to the MAGA types: bigoted lying* anti-LGBTQ+ lout.
* Claims to be a founder of Tesla. Balderdash.