It’s official – Elon Musk just became the world’s first trillionaire as his company SpaceX begins trading on the Nasdaq.
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According to CNBC, SpaceX opened at $150 per share during its Nasdaq debut late last week. Musk’s SpaceX stake is notably worth more than $766 billion. Including his stake in Tesla, Musk’s net worth is approximately $1.05 trillion.
SpaceX’s IPO also added more than $180 billion to Musk’s worth. He is worth more than the next five richest billionaires in the world combined. The company’s shares gained approximately 20% on Friday, closing just above $160 each.
Shares of Tesla rose by almost 2% following SpaceX’s Nasdaq debut. They are now at approximately $406 a piece.
Musk was first declared a billionaire in 2012, with an estimated net worth of $2.4 billion.. He reached $20 billion in 2019 and hit $100 billion the following year.
Despite His Trillionaire Status, Musk Says Money Won’t Matter in the Future Thanks to AI
Although he is now a trillionaire, Musk recently said that money will be less relevant in the future thanks to AI.
“AI and robots are going to make so much stuff and provide so many services that they’ll run out of things to do for humans,” he said while speaking to entrepreneur and executive chairman of XPrize Foundation, Peter Diamonds. “I think money will stop being relevant at some point in the future.”
Diamond further asked, “So just as you’re becoming a multi-trillionaire, money starts to have less value?”
“Yeah, pretty much,” Musk replied.
Meanwhile, Musk’s critics didn’t hold back when discussing his new trillionaire status.
Late-night show host Jimmy Kimmel called the status disturbing.
“Elon Musk is expected to become the first ever trillionaire in the history of the world,” Kimmel said during a recent monologue. “And what makes that even more unsettling is this man — our first trillionaire, the richest man in the world — is also one of the weirdest people we’ve ever seen on this planet.”
He then added, “This obscenely wealthy weirdo has the ability and means to blow up the moon if he chooses and also to put a lot of other people’s money in his pockets. Wasn’t he supposed to be going to Mars? Can’t we chip in to help speed that up?”