Bernie Sanders Blasts Musk Becoming World’s First Trillionaire After SpaceX IPO Pequeño is a breaking news reporter who covers tech and more.Jun 12, 2026, 02:02pm EDTToplineElon Musk became the world’s first trillionaire Friday following SpaceX’s initial public offering, drawing criticism from progressive lawmakers, some of whom renewed calls for taxes on the wealthy and changes to Social Security.Sanders said Musk becoming a trillionaire was an "absurdity."(Photo by Chip Somodevilla/Getty Images)Key FactsSen. Bernie Sanders, I-Vt., who has long advocated for wealth taxes to help fund public programs, characterized Musk’s trillionaire status as an “absurdity” and called for an increase on the cap for taxable income.This is a developing story and will be updated.LOADING VIDEO PLAYER...FORBES’ FEATURED Video
Bernie Sanders And More Blast Musk’s Trillionaire Status After SpaceX IPO
Musk’s net worth surged to $1.1 trillion on Friday following the initial public offering of his aerospace company SpaceX.
TL;DRAI
Elon Musk becomes world's first trillionaire following SpaceX's IPO on June 12, 2026. The milestone draws wealth-tax criticism from progressive lawmakers, signaling mounting regulatory pressure on ultra-high-net-worth tech founders.
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