Elon Musk on Friday became the world's first trillionaire. This is linked to the sharp increase in value of his SpaceX company's shares following a major IPO process on the stock market. BBC reported this.
According to Bloomberg's rating, Musk, the founder of Tesla and SpaceX, has a total wealth of $1.11 trillion.
According to data, SpaceX was listed on the Nasdaq exchange with a valuation of $2.2 trillion. Although shares were initially offered at $135, trading opened at $150 and rose to $176.50. Later, shares closed around $161.
Through the IPO process, SpaceX attracted $75 billion in investment.
Bloomberg reports that Musk holds a 42 percent stake in the company, and his assets in SpaceX are valued at $767.1 billion. He also has hundreds of billions of dollars in wealth from Tesla shares and options.
Musk's status as a trillionaire has intensified debates about wealth inequality in the world. It is noted that his wealth is equivalent to the total economic size of some countries.
It is reported that Musk also actively participates in US political processes, allocating large amounts of funds to Donald Trump's election campaign. He is also said to have come up with initiatives for drastic cuts in the activities of several government agencies.
His decisions and statements are causing various debates and discussions in the international community.
