Elon Musk is officially the world’s first official trillionaire, reaching a net worth of over $1.2 trillion after the IPO of his company, SpaceX. With an unbelievable amount of money, Musk is at the top of the list of the richest people in the world, and while he is a self-made man, much of the public is taking issue with this news as Musk rarely donates to charity, and clearly has more money than he’d ever need. Keep reading for more information.
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Elon Musk Becomes The World's First Trillionaire
SpaceX debuted on the Nasdaq exchange on June 12th, pricing 555.6 million of its shares at $135 each, which makes it the largest initial public offering (IPO) in history. With this debut, Forbes crowned Elon has the world's first trillionaire, and over 4,000 SpaceX employees who owned company stock prior to the IPO joined the millionaire club.
A trillion dollars can be hard to conceptualize, but think about it like this: 1 million seconds is almost 12 days. 1 billion seconds is almost 32 years. But 1 trillion seconds is about 31,700 years!
Musk has received a lot of backlash over his insane amount of wealth, especially as the economy makes it hard for many Americans to even afford groceries. While many wealthy individuals like Bill Gates, Warren Buffett, or MacKenzie Scott are known for their philanthropic endeavors, Musk really isn't—he's much more well known for his business ventures, and much of his wealth actually remains tied up in his companies.
Social Media Reactions
Across social media platforms, users have been rather disgusted with how much wealth Musk has and his lack of giving back. "The existence of a trillionaire while people are starving is a fundamental failure of society," one person wrote on TikTok.
"He literally has enough money to end world hunger," another person pointed out. "Greedy, greedy, greedy."
"It's immoral to be able to accrue that much money and power," a third person said.
"And he could actually help the world and the planet but chooses instead to build bunkers and try escaping to space," said another. "Does anyone else see the problem?"
"Can he at least donate to people in need?" another person asked.
"If Elon Musk shared that crazy fortune with every human being on this earth would the world be a better place?" a final user questioned.
