Elon Musk is officially the world’s first trillionaire, and he has somewhat missed the mark in solving global hunger.
Musk, owner of SpaceX and creator of Tesla, has cemented himself as a man deeply embedded in internet culture – and an idol of many who politically lean towards the far-right.
The 54-year-old’s businesses and influence are so powerful, his network has been dubbed the ‘Muskonomy’.
His stake in SpaceX is worth around $866 billion, and along with Tesla and other properties, his net worth will exceed $1.1 trillion – or £820 billion – when the stock begins trading Friday.
The ‘Muskonomy’
He has co-founded other companies,including brain implant maker Neuralink and tunneling startup The Boring Company.
He bought Twitter for $44 billion, swiftly renaming it to X, and promised to dedicate the platform to free speech.
The dad of 14 was also asked to join Donald Trump’s executive team after bankrolling his election campaign, and he became head of the Department of Government Efficiency, (Doge for short).
But a rather public falling out over Trump’s budget bill saw Musk resign. The two exchanged insults on X, and came at a time when Tesla sales were falling with consumers beginning to boycott the vehicle manufacturer.
Musk then swore to his investors he would spend more time on his businesses, and his wealth only continues to grow.
Matt Durot, deputy editor at Forbes Wealth, said: ‘The second richest person has been hovering around $300 billion, so about less than one-third of what Musk can potentially be worth tomorrow.
‘And only one other person, (Oracle founder) Larry Ellison, has ever been worth $400 billion.’
What could $1 trillion pay for?
Laid end-to-end, one trillion dollar bills could wrap around the equator 3,890 times, and reach the sun from the Earth.
He could give every single person in the United States a share of his cash, with everyone receiving $2,917.32.
And if he wanted to give off every person on the planet a gift, they would receive $121.80.
He could erase all government debt interest across the world which has the potential to rewrite history.
The entire debt of Singapore $1 trillion could be wiped out in just one go.
Oxfam estimates $ 37 billion is needed every year until 2030 to tackle extreme and chronic hunger, which Musk can easily afford.
He famously tweeted he would give up $ 6 billion to end world hunger if the UN explained in detail how they would achieve this.
They responded with a detailed report on how it would save 42 million lives and published a speniding plan to role out food procurement and delivery in 43 countries.
Musk never responded, and didn’t give them a dime.
Musk could also donate to fighting disease. Researchers say eradicating malaria is no longer a distant dream, but an attainable achievement with an extra $ 2 billion of annual funding by 2050, on top of the $ 4.3 billion spent every year.
Children’s access to education could also be vastly improved. According to UNESCO, providing universal schooling globally will cost an estimated £97 billion in additional annual funding.
But for now, Musk continues to focus on his business. JP Morgan CEO Jamie Dimon said: ‘Elon is the Edison of our time.’
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