Elon Musk Falls Below $1 Trillion as SpaceX Shares Retreat

Letter: With data centers in mind, I’ll take Musk over a celebrity ‘shark’ any day

The long-awaited (by investors) initial public stock offering of Elon Musk’s SpaceX is now in the record books, having sold more than a trillion dollars’ worth of shares its first day.

The obscenity of Elon Musk’s $1 trillion

Elon Musk’s recent achievement of $1 trillion net worth (now back to $957 billion) only serves to underline America’s obscene inequality. Compared to Warren Buffet (Forbes’ 10th-richest man, at $150 billion), there’s very little that Musk’s additional $850 billion nets him: private islands, super yachts, private jets and a car collection combined can merely put […]

Elon Musk Falls Below $1 Trillion as SpaceX Shares Retreat

Elon Musk has lost his brief status as the world’s first trillionaire after declines in SpaceX and Tesla shares reduced the value of his holdings. Musk crossed the $1 trillion mark following SpaceX’s public-market debut on June 12. The rocket and satellite company’s shares initially climbed sharply, lifting its market value above $2 trillion and adding hundreds of billions of dollars to Musk’s estimated fortune. SpaceX Completed a Record-Setting…