Elon Musk Becomes the First Trillionaire in the World!

Achieved this milestone following the record-breaking initial public offering (IPO) of his company, SpaceX.

(IPO means Initial Public Offering i.e. the process wherein a private company, for the very the first time, goes public and offers its shares to people to raise capital)

(Trillionaire refers to a person who has US $ 1,000 billion)

New York (USA) – Elon Musk became the world’s first trillionaire, achieving this milestone following the record-breaking initial public offering (IPO) of his aerospace and AI company, SpaceX. The value of his business empire officially crossed the $1 trillion mark, that is a staggering ₹95 lakh crore, making him the first trillionaire in the world. One thousand billionaires are equal to one trillionaire.

The record share sale that raised US $75 billion on June 11 sent SpaceX’s valuation soaring. This company manufactures rockets and satellites. The net worth of Musk is likely to cross US $ 1.1 trillion when the actual trading of his company’s shares starts. Even before the IPO, Musk’s net worth was US $780 billion. The second-richest person after Musk, Larry Page, co-founder of ‘Alphabet Inc’, has an estimated wealth of around US $300 billion. This means that Musk is about three times richer than Page.