Elon Musk, the chief executive of Tesla and SpaceX, has become the world’s first trillionaire, according to the Bloomberg Billionaires Index, as a surge in SpaceX’s valuation propelled his net worth past the $1 trillion mark. The milestone, announced on Tuesday, follows a $50 billion funding round for the private aerospace company, which valued it at $350 billion. Musk’s fortune, largely tied to his stakes in Tesla and SpaceX, has risen by $120 billion this year alone.
UK investors, many of whom hold shares in Tesla through pension funds and index trackers, have welcomed the development as a sign of robust returns in the technology sector. However, analysts caution that the valuation of SpaceX, which has yet to post consistent profits, remains vulnerable to regulatory and market shifts. Musk’s ascent to trillionaire status underscores the growing concentration of wealth in the tech industry, a trend that has drawn scrutiny from policymakers in London and Brussels.
The UK’s Financial Conduct Authority declined to comment on the matter, but sources indicate that regulators are monitoring the implications for market stability.
