Elon Musk’s net worth has risen to nearly $1.4 trillion with the value of SpaceX shares rising more than 15% on Tuesday. Now, his wealth has surpassed the current market cap of Bitcoin (BTC), which is around $1.3 trillion.
Elon Musk’s net worth exceeds the market value of Bitcoin
An explosive rise follows The IPO of the blockbuster SpaceXWhich is said to have made Musk the world’s first trillionaire. Before going public, his net worth was estimated at $780 billion. It only took a few days for SpaceX to increase Musk’s fortune by hundreds of billions.
Scott Melker, a Wall Street cryptocurrency expert, responded to this feat on X with a strange comment. He wrote: “The quickest way to make $1 million in Bitcoin is to convince Elon Musk to put 10% of his net worth into Bitcoin.” This statement quickly sparked a storm in the world of cryptocurrencies, with analysts discussing the potential impact of such a move on Bitcoin’s market value.
the SpaceX shares It is up nearly 62% compared to the initial offering price of $135. This rise has propelled Elon Musk’s net worth, as he owns 6.07 billion shares of the company’s total outstanding equity. He represents a whopping 46.4% in the company, so even a small increase in the stock’s value adds millions to his wealth.
A massive controversy erupted on the Internet
However, the boom in Elon Musk’s net worth It also sparked political controversy over the issue of income inequality in the United States. “Our system is rigged so that one man becomes a trillionaire while millions of Americans cannot afford a trip to the doctor,” Senator Elizabeth Warren wrote on X.
“Wealth is being transferred to the wealthy while everyone else is holding on by their fingernails,” she added. She then promoted her proposed wealth tax legislation. “A tax on my wealth would level the playing field. Let’s do it,” Warren said.
On the contrary, Solana co-founder Anatoly Yakovenko disagreed vehemently with Warren. In
He also claimed that imposing a tax on the value of his property could have a negative impact on workers and businesses associated with his companies. “If Elon has to sell shares, Texas employee shareholders lose money,” Yakovenko wrote.
He also added: “ SpaceX company They can’t collect much and therefore can’t rent or build many things in Texas. Capital is not wealth. “This is a stupid tax to destroy the means of production.”
