The World now has its first trillionaire: Income inequality will never end.

[Die_empty]

After the record-breaking stock market debut of his company SpaceX, Elon Musk is now worth $1.11tn, based on Bloomberg's estimation.  Musk becomes the first world trillionaire as his wealth surpasses that of Google co-founders Larry Page and Sergey Brin, Amazon boss Jeff Bezos, and the founder of French luxury goods group LVMH, Bernard Arnault.

According to Oxfam Musk is wealthier than the poorest 46 percent of the world’s population combined, about 3.8 billion people. The organization also estimates that a 10 percent tax on Musk’s 1 trillion dollar fortune could fund efforts to end extreme global poverty for one year, potentially lifting more than 800 million people above the extreme poverty line. But this will never happen. Global inequality is increasing and I don't think it will ever end. The gap between the rich and the poor will continue to grow.

There are proposals from some organisations for the government to check the influence of these big organisations by reducing the power of large companies and monopolies, increasing taxes on extreme wealth, and strengthening labor protections and wages. This is never going to happen because these billionaires also control the political system. Instead of complaining and doing nothing, let's seek means to increase our income and expand our investments. This is because capitalism is here to stay.

[X-ray]

Honestly, nothing wrong with it. He founded SpaceX and the IPO become a huge success, isn't it normal that he become the first trillionaire.

It is to me doesn't mean wealth disparity, it means he created value and market rewards it. The market in this case also includes ordinary citizens.

Nobody is forcing anyone to buy SPCX stock. Not to mention inflation exist and everything will always go up in dollar notional value, there will be next mega IPO and next trillionaire, it's something that is already set in stone.

Increasing tax may be okay-ish, but honestly I always consider this "tax 10% lift 800 million people from extreme poverty" as bullshit though. We shouldn't force redistribution of wealth but create a more fair system where everyone can achieve their dream through hardwork.

[Kelward]

When I saw the title of this thread I knew immediately that it has to be Elon Musk, and there is no doubt about it when I began to read the OP post, Elon musk, is an extraordinary visionary so it's not surprising that he has to broke a rare record of becoming the world's first trillionair. I wouldn't be surprised if other exceptional people joins the list in the future but he will remain the first to achieve such a height of success in life.

Inequality will never cease because in the human characteristics we are not created to be equal, there will always be the poor in every societies and the super rich will always make sure that it remains like that because it favors them, they will manipulate the system by influencing policies in their countries. I think that what we can do as individuals is to work smart to better our own micro economy to escape poverty, think outside the box to find the right skills to create wealth. Everybody cannot be a millionaires and billionaires or like Elon Musk, a trillionair but we can work towards being comfortable if we are focused on goals that leads to wealth creation.

[slapper]

The $1 trillion was not a coincidence. SpaceX's contracts with the government lasted for years. Tesla continued to exist on the subsidy. The DOGE thing literally provided him with access to federal agencies that regulate his corporations. The guy discovered that if you are rich enough, there is no distinction between public money and private wealth.

And, yes, Oxfam says that a 10% tax on his fortune would bring 800 million people out of extreme poverty for one year. Will it happen? Not at this time. Of course, that is not an absolute. That is such a weird conclusion to reach. You look at a problem that is caused by certain tax codes, and certain lobbying, and you go "well, guess it is permanent".

There is always the invest steadily and income approach, and yes, it has merit. Obviously. No one's saying not to do that. But come on. The bottom 50% of humanity holds 2% of global wealth. You think they are all just bad at picking stocks?

Feudalism looked permanent. At the time, the colonies seemed to have a future. The divine right of kings seemed to be well established. None of them were. Systems break when enough people stop accepting the premise.

[Fortify]

Late stage capitalism starts to break down the bonds of trust in society. America is almost entirely under corporate capture right now. Media companies have been consolidating relentlessly over the the last few years, so just a few people are in control of telling people what to think. Things like the food supply chain to all the big restaurant chains have maybe one or two companies fulfilling the role. Sure, it gives you economies of scale but it also prevents any choice, when such companies get into exclusive arrangements with farmers and lock out competition as much as possible. Then we have Elon, who if he was a nice guy I'm sure he'd have more support - but he's done and said some pretty horrible, unnecessarily divisive things at the moment and is constantly trying to undermine other governments after he famously failed to help the US government at all. As AI and automation take out even more jobs in future, society needs a really hard think and should get these billionaires + trillionaire to pay far more back.

[Bitcoin_Arena]

People tend to keep a blind eye to how messed up capitalism is until it's too late. Now here is a classic example, and funny enough, the so-called richest folks never seem to ever get satisfied with what they have. They always keep digging for more and more.

I pity the retail traders rushing in to participate in the IPO. They are the prey while someone is on their journey to being the first trillionaire.

[Churchillvv]

People tend to keep a blind eye to how messed up capitalism is until it's too late. Now here is a classic example, and funny enough, the so-called richest folks never seem to ever get satisfied with what they have. They always keep digging for more and more.

It has always been in the nature of man not to be satisfied which is why human society keeps advancing, if there was satisfaction then there will be no progress or any kind of changes but however it seem to me like most people do not appreciate the fact that one man is able to accumulate such wealth and sounds quite unhealthy as the 1% of of the world now has another 1% inside of the 1%. But well if you can figure out ways to gather all the wealth in the world, I call them genius because it’s the actual strive of everyman just that they have done it without the rest so it seems unfair.

I pity the retail traders rushing in to participate in the IPO. They are the prey while someone is on their journey to being the first trillionaire.

He is not longer trying to be already has, firstly it has been speculated long ago that he would have such momentum but then the IPO is going to make everyone money including the retailer, so I don’t pity anyone I’m glad to see it happen within my generation and a new milestone has been set.