Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
Astronomical wealth — what $1 trillion can buy
Los Angeles Times
|June 14, 2026
SpaceX’s initial public offering made Elon Musk the world’s first trillionaire last week.
Catapulted by the market debut of his rocket company SpaceX, Elon Musk is now the world’s first trillionaire.
That level of wealth, all owned by just one person, was once unfathomable. Before Friday, the trillion-dollar mark was reserved for measures such as the gross domestic product (or staggering debt) of a handful of major economies — and, in the last decade alone, the value of some of the biggest companies to ever trade on the stock market.
Musk’s new title arrives amid a wider acceleration for the richest of the rich. Year after year, his former (although now very distant) billionaires club has reaped a growing number of members — from tech titans to celebrities. All the while, more and more people worldwide are struggling to pay their everyday bills. Many have decried the arrival of the first trillionaire as the latest and most alarming example of that wealth gap.
The number “one trillion” is hard in itself for the human mind to comprehend. One trillion dollars is a thousand times greater than $1 billion. And a million times more than $1 million.
This story is from the June 14, 2026 edition of Los Angeles Times.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Los Angeles Times
Los Angeles Times
ABOUT TIME
These days, TV series are expected to premiere with their voice, and their audience, fully formed. How HBO's sexy, seamy 'Industry' bucked the trend.
11 mins
June 16, 2026
Los Angeles Times
Spielberg sci-fi thriller ‘Disclosure Day’ takes box-office crown
Steven Spielberg’s latest sci-fi thriller, “Disclosure Day,” topped the weekend box office, an encouraging sign for what could be a big summer for theaters.
1 mins
June 16, 2026
Los Angeles Times
Studios in Microsoft Xbox gaming division bracing for closures
Several studios in Microsoft Corp.’s Xbox gaming division, including Montreal-based Compulsion Games and San Francisco-based Double Fine, are in active negotiations to spin off as they try to thwart closure, according to people familiar with the company’s plans.
1 mins
June 16, 2026
Los Angeles Times
What’s inside the America250 time capsule
Paper, the traditional gift for marking a couple’s first year of marriage, also is a great choice for 250th anniversaries — especially when filling a time capsule celebrating American independence.
4 mins
June 16, 2026
Los Angeles Times
U.S.-Iran peace deal sends stocks up, oil prices down
Stock markets rallied worldwide, and oil prices eased after the United States and Iran reached a tentative deal to get the global flow of crude going again.
3 mins
June 16, 2026
Los Angeles Times
An essay by Connor Hines on making ‘Love Story,’ the Kennedys and how he won over producer Ryan Murphy
GROWING UP, MY GRANDPARENTS VIRTUALLY had a shrine to President Kennedy and Jackie.
3 mins
June 16, 2026
Los Angeles Times
Supreme Court will hear appeal of 'criminal aliens' case
Administration seeks to hold some people indefinitely while they fight deportation.
2 mins
June 16, 2026
Los Angeles Times
Primary results don't help Trump
Re “Hilton, Becerra to face off Nov. 3,” June 10
1 min
June 16, 2026
Los Angeles Times
A vague deal with Iran leaves top questions unanswered
Trump and leaders in Tehran make conflicting statements about strait, weapons.
6 mins
June 16, 2026
Los Angeles Times
Ben Kingsley's sense of 'Wonder'
The actor breaks down how he developed a backstory for his Marvel character by drawing on his relationship with his mother
6 mins
June 16, 2026
Listen
Translate
Change font size