Elon Musk Becomes World’s First Trillionaire After SpaceX IPO, Raising Tax Debate

Elon Musk has become the world’s first trillionaire following SpaceX’s record-breaking IPO, according to Bloomberg. Nobel laureate Paul Krugman and Yale economist Natasha Sarin said the milestone highlights how the economy rewards ownership of rapidly appreciating assets and underscores limits of a tax system designed more than a century ago. Bloomberg wealth reporter Ben Steverman said the concentration of wealth in the technology sector has renewed debate over taxation, political influence and inequality.