Elon Musk becomes world's first trillionaire

In 2026, up until July, Elon Musk's estimated wealth grew by between $30 million and $100 million an hour, making him, at least briefly, the world's first trillionaire. This milestone highlights extreme wealth inequality in the United States, where nearly 1,000 billionaires coexist with 35.9 million people living below the poverty line. The article discusses the moral dilemma surrounding extreme wealth, balancing the right to keep earned wealth against the harms of concentrated power. It notes that while Americans express a desire for more equality, they are reluctant to support wealth taxation or redistribution. The piece cites Musk's influence over markets, politics, and public platforms as examples of the power that extreme wealth confers.