💬 Opinion 8h ago · Paul Mueller

The Trillion-Dollar Illusion

American Spectator
Conservative commentary and reporting
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Elon Musk has created — and lost — more paper wealth than anyone in history, with most of that loss occurring in just four weeks. His net worth dropped by an amount nearly equal to the combined fortunes of Jeff Bezos and Mark Zuckerberg. Though Musk remains the world’s richest person, these wild paper swings expose fundamental truths about risk, entrepreneurship, and how we measure value.
The SpaceX IPO shattered records as the largest of all time, raising $75 billion in cash with an initi

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