CounterPunch Exclusives

CounterPunch Exclusives

Musk’s Trillion-Dollar Fortune is a Flashing Warning Light for Democracy

Elon Musk wielding a chainsaw at the Conservative Political Action Conference (CPAC) in 2025. Photo: Gage Skidmore. CC BY-SA 2.0

The red emergency light is flashing on America’s democracy dashboard, like a damaged aircraft teetering toward a mountain. Elon Musk becoming the planet’s first trillionaire should make us tremble for the future of self-governing republics. It’s as if we’re bringing back modern pharaohs to dominate our societies.

Musk’s SpaceX company recently went public with a (probably inflated) market capitalization of $2 trillion. SpaceX’s IPO increased Musk’s net worth by an estimated $188 billion, and the stock’s first-day surge subsequently pushed his fortune to roughly $1.1 trillion, according to Forbes.

The concern here isn’t with wealth per se. It’s the tremendous power of concentrated wealth to distort markets, politics, and society. When you have Musk’s level of wealth, you’re no longer just buying another mansion or private jet (of which he already has several). You’re buying a media outlet, a senator, and maybe, in the case of Musk, elevating a president.

Musk has no inhibitions about deploying the power of........

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