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Elon Musk only Marginally Less Wealthy than All New Zealanders Combined
SpaceX's $150-per-share Nasdaq debut lifted Musk's net worth to $1.11 trillion, prompting lawmakers to renew calls for wealth taxation.
- On Friday, Elon Musk became the first person to reach a net worth above $1.1 trillion following SpaceX's Nasdaq debut, according to Forbes calculations.
- SpaceX shares opened 11% higher at $150 per share, surging to finish the debut session at $160.95, representing a nearly 19% gain that propelled Musk's wealth past the trillion-dollar threshold.
- Senator Bernie Sanders called the milestone a warning about greed, arguing US democracy 'cannot survive' when one person becomes $700 billion richer since Trump's election, while Elizabeth Warren posted, 'This needs to be a wake-up call.'
- Governor Gavin Newsom stated Americans were 'struggling' to afford everyday goods and gas while Musk reached trillionaire status, highlighting wealth disparity as Musk's net worth neared that of all New Zealand households combined.
- Researcher Edward Miller at The Centre for International Corporate Tax and Accountability Research warned that extreme wealth concentrations threaten societal trust and social order, signaling Musk's fortune shifted from business story to political flashpoint.
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With the IPO of SpaceX, not only Elon Musk increased his fortune. An evaluation shows that the wealth of the richest 500 people has never increased as much as on Monday.
·Düsseldorf, Germany
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How Much Is a Billion Dollars Really? This Would Receive Each Person if Elon Musk Shared His Fortune
Elon Musk became the world's first billionaire after the momentum he received from SpaceX's stock market. According to Forbes, his net fortune reached $1.1 billion on Friday, a figure that marks an unprecedented milestone in the accumulation of individual wealth.The growth of his wealth occurs in a context where more and more billionaires increase their fortunes.At the same time, millions of people face economic difficulties in different parts o…
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Coverage Details
Total News Sources26
Leaning Left3Leaning Right9Center3Last UpdatedBias Distribution60% Right
Bias Distribution
- 60% of the sources lean Right
60% Right
L 20%
C 20%
R 60%
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