X.com<\/a>, which later became PayPal.<\/p>\nElon Musk is now the world\u2019s first trillionaire.<\/p>\n
Musk was PayPal\u2019s largest shareholder during its sale to eBay in 2002, reportedly netting him roughly $165 million after taxes.<\/p>\n
The same year, he founded SpaceX using $100 million of his PayPal fortune.<\/p>\n
He then invested $6.35 million in the electric car company Tesla in 2004 and has since raked in tens of billions of dollars in stock from the company.<\/p>\n
Musk became the world\u2019s richest person in January 2021 \u2014 snatching the title from Amazon founder Jeff Bezos \u2014 when a rise in his Tesla share prices shot his net worth up to more than $185 billion.<\/p>\n
Since then, Musk\u2019s fortune has increased more than five-fold in a nearly six-year period, during which he bought the social media company Twitter, founded an AI startup, and took SpaceX public.<\/p>\n
SpaceX\u2019s market cap is now more than 2 trillion. AFP via Getty Images<\/p>\n
Twitter, which he bought in 2022 and renamed X, has reportedly not made him a profit.<\/p>\n
Musk\u2019s net worth now includes Tesla, along with stakes in ventures such as the brain implant firm Neuralink, tunneling firm the Boring Company.<\/p>\n
On Friday, SpaceX shares opened up 11% from their initial public offering price of $135, and quickly shot up to $160 \u2014 raising the company\u2019s market cap to $2.1 trillion and making it the sixth most valuable company in the world.<\/p>\n
After the initial public offering, Musk will control about 82% of SpaceX, according to filings.<\/p>\n
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Musk\u2019s trillionaire status now means he is five million times richer than the average American family.<\/p>\n
By contrast, if he were feeling generous, he could give all 8.3 billion people on Earth $120.<\/p>\n
Google co-founder Larry Page is, meanwhile, the world\u2019s second wealthiest person with a net worth of $257 billion, Forbes\u2019 2026 billionaires list.<\/p>\n
His co-founder Sergey Brin, is the third richest with a net worth of $237 billion, according to the outlet.<\/p>\n
Coming in at fourth is Amazon founder Jeff Bezos with a $224 billion net worth, followed by Facebook founder Mark Zuckerberg with $222 billion.<\/p>\n
By mid-afternoon Friday, shares of SpaceX \u2013 which operates rocket, satellite internet and artificial-intelligence businesses \u2013 had reached nearly $173, placing the company\u2019s valuation at a staggering $2.3 trillion.<\/p>\n
\u2014\u00a0Additional reporting by Chris Nesi<\/p>\n","protected":false},"excerpt":{"rendered":"Elon Musk became the world\u2019s first-ever trillionaire Friday as shares of his rocket company SpaceX blasted off on…\n","protected":false},"author":2,"featured_media":265398,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[288,2411,27147,9,11,10,56699,1601],"class_list":["post-265397","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-business","tag-elon-musk","tag-ipo","tag-new-york","tag-new-york-headlines","tag-new-york-news","tag-spacex","tag-tech"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/265397","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=265397"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/265397\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/265398"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=265397"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=265397"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=265397"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}