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SpaceX makes Musk first trillionaire - 22nd June 2026
Elon Musk's become the first trillionaire after SpaceX shares began trading on the stock exchange. His personal wealth's now estimated at $1.23 trillion. SpaceX shares, which went public at $135, rose to $161 on their first day.
As Musk owns 40 percent of SpaceX, this significantly boosted his personal wealth. His fortune's now four times that of the world's next-richest person, Google founder Larry Page. It's also larger than the GDP of most countries.
In the 1990s, Musk built a reputation in the tech sector. Zip2, which he founded with his brother in 1995, was his first company. He earned $22 million from its sale in 1999.
Musk immediately invested $12 million into starting a new company. X.com was a first-generation online bank. It soon merged with a competitor, and the new company was named PayPal.
When PayPal was bought by eBay in 2002, Musk received $176 million in shares. $100 million of this became the founding capital for SpaceX.
Musk led SpaceX strategically as CEO and technically as its chief engineer. This allowed him to target commercial success through its rocket and satellite designs.
Although a successful entrepreneur, Musk's a controversial individual. His takeover of Twitter, which he renamed 'X', led to policy changes that increased fake news.
In 2024, Musk donated the largest sum to Trump's presidential campaign. He then took a leading role in Trump's administration. This created a public backlash. Tesla, which Musk's CEO of, saw car sales drop significantly.
Musk's $1 trillion fortune exists mostly on paper. Only 0.1 percent, or around $1 billion, is available in cash or similar assets.
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