Elon Musk, the ambitious entrepreneur who has become a major character in internet culture and built a wealth that has made him the first trillionaire in history, is one of the few corporate executives who has been as thoroughly ingrained in popular culture.
Despite his enormous riches and lack of the approachable demeanor that made other tycoons like Warren Buffett popular with the general public, Musk has managed to maintain a devoted following at a time when worries about inequality are strong and public sentiments toward the ultra-wealthy have deteriorated.
While supporters see Musk’s unfiltered approach as part of his attraction, detractors have expressed worries about governance at his firms, accused him of exercising oligarch-like authority, and complained to his increasingly contentious political involvement.
However, SpaceX, the expansive rocket, satellite, and artificial intelligence corporation that forms the core of Musk’s empire along with electric car manufacturer Tesla, raised a record $75 billion in its initial public offering on Thursday, demonstrating investor excitement for his commercial endeavors. His net worth was estimated by Forbes to be approximately $780 billion prior to the share sale, much ahead of the next in line, Larry Page, the co-founder of Alphabet.
According to Matt Durot, deputy editor at Forbes Wealth, “the second richest person has been hovering around $300 billion, so about one-third of what Musk could potentially be worth tomorrow.” “And only Larry Ellison, the founder of Oracle, has ever had a net worth of $400 billion.
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