As Musk secures first trillionaire status with SpaceX IPO, will the next come from China?
As the initial public offering sees Musk become the first ever trillionaire, China is also seeing growth in its tech uber-rich
This is part of a series on the global impact of SpaceX’s historic IPO, tracing how mainland Chinese investors’ strategies, the Hong Kong market and wider capital flows are being reshaped by Elon Musk’s trillion‑dollar rocket gamble.
“What makes money today is completely different from what made money a decade ago,” said Rupert Hoogewerf, the founder of Hurun Inc, a research firm that tracks wealth among China’s richest individuals.
“AI is a capital-intensive, winner-takes-most phenomenon,” Hoogewerf said in a report. “Returns flow overwhelmingly to those who already control the data, computing power and the platforms.”