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Space Exploration Technologies Corp. and Tesla Inc. CEO Elon Musk‘s net worth has surpassed the $1 trillion mark. Here’s how his fortune compares with the world’s top billionaires.
Elon Musk Surpasses $1 Trillion
According to the Forbes Billionaires list, Musk’s net worth reached $1.3 trillion on Monday following SpaceX’s rally. Musk’s updated net worth now means he is nearly $1 trillion wealthier than former Alphabet Inc. CEO Larry Page, who is worth $301 billion.
Musk’s fortune also means he is worth more than the combined net worths of Sergey Brin ($277.7 billion), Amazon.com Inc. founder Jeff Bezos ($255.5 billion), as well as Oracle Corporation CEO Larry Ellison ($241.4 billion).
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SpaceX Rally
The news comes as SpaceX’s rally made Musk gain over $165 billion. SpaceX’s market capitalization surpassed that of Microsoft Corporation . Musk’s fortune had surpassed the market cap of all but 12 public companies in the world.
SpaceX is also worth more than 12 aerospace and defense companies listed on the S&P 500 index, including Boeing Co., RTX Corp, and Northrop Grumman Corp.
Musk’s daily wealth gains made during the rally also resulted in the Tesla CEO exceeding the lifetime net worth of the former Berkshire Hathaway CEO Warren Buffett.
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Criticism Of The IPO
Musk’s wealth milestone has been heavily criticized by lawmakers, including New York City Mayor Zohran Mamdani, who said that the milestone was “reason #1,000,000,000,000” that calls for the need for a wealth tax on society’s richest members.
The milestone was also criticized by Sen. Elizabeth Warren (D-Mass.), as well as Gov. Gavin Newsom (D-CA), who said that Americans were “struggling” to get everyday goods and gas, while Musk became a trillionaire.
Photo courtesy: Shutterstock
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