AXIOS (Matt Phillips) - Elon Musk is the first trillionaire
Data: FactSet, Securities and Exchange Commission ; Chart: Matt Phillips/Axios Elon Musk's almost inconceivable fortune has expanded the Overton window of wealth. Why it matters: Big, round numbers have a remarkable way of focusing minds and setting narratives. - The first trillionaire — much less a trillionaire known for erratic personal behavior, online trolling and support for global right-wing politics — will likely reignite discussion of the diverging fortunes of wage earners and those with market-based wealth, as well as their growing political power. Driving the news: Shares of Musk's space-launch-satellite services-AI-and-social-media conglomerate SpaceX ended their first day of trading up 19.2%, to $160.95. - At that price,…
Data: FactSet, Securities and Exchange Commission ; Chart: Matt Phillips/Axios Elon Musk's almost inconceivable fortune has expanded the Overton window of wealth. Why it matters: Big, round numbers have a remarkable way of focusing minds and setting narratives. - The first trillionaire — much less a trillionaire known for erratic personal behavior, online trolling and support for global right-wing politics — will likely reignite discussion of the diverging fortunes of wage earners and those with market-based wealth, as well as their growing political power. Driving the news: Shares of Musk's space-launch-satellite services-AI-and-social-media conglomerate SpaceX ended their first day of trading up 19.2%, to $160.95. - At that price,…Open