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Elon Musk Becomes World’s First Trillionaire as SpaceX IPO Surges Past $2 Trillion Valuation

Historic milestone prompts fresh look at how John Jacob Astor and John D. Rockefeller set early wealth records

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Historic milestone prompts fresh look at how John Jacob Astor and John D. Rockefeller set early wealth records

Elon Musk has become the first person in human history to attain a net worth above $1 trillion, following the public listing of SpaceX on the US stock market. The development, confirmed by Forbes estimates on Saturday, places the Tesla and SpaceX chief executive far ahead of any previous record-holder for personal wealth globally.

The milestone was reached after SpaceX’s debut on Wall Street under the ticker SPCX saw investor demand drive the company’s valuation above $2 trillion. This surge added hundreds of billions of dollars to Musk’s existing fortune, which is also tied to his holdings in Tesla and recent ventures in artificial intelligence through xAI.

Financial analysts say the achievement marks a new era for global entrepreneurship, given that much of Musk’s wealth is rooted in forward-looking technology sectors rather than traditional industries. “Musk’s leap to trillionaire status shows just how fast innovation can translate into real value in today’s markets,” Lagos-based investment analyst Chinedu Okoro said by phone on Saturday.

To put this feat in context, historians point out that John Jacob Astor was widely regarded as the world’s first millionaire after making his fortune in fur trading and New York real estate during the early 1800s. By the time of his death in 1848, Astor had amassed more than $20 million—a vast sum at a time when most workers earned only a few hundred dollars each year.

Similarly, oil magnate John D. Rockefeller became the world’s first billionaire in 1916 through his Standard Oil empire. His fortune, exceeding $1 billion at the time, would be worth tens of billions today when adjusted for inflation. Some economic historians maintain that Rockefeller remains one of the richest individuals ever relative to the size of the global economy during his lifetime.

While neither Astor nor Rockefeller operated within Nigeria or Africa, their legacies are closely studied by Nigerian business leaders for lessons on long-term wealth creation and strategic investment. Experts say Musk’s success may inspire more Nigerian entrepreneurs to focus on technology sectors such as fintech, space technology, and artificial intelligence.

With global attention fixed on Musk’s latest achievement, observers expect continued debate over how future-forward innovation could reshape patterns of wealth both internationally and within Nigeria.

Source: https://www.pulse.ng/story/elon-musk-world-first-trillionaire-first-millionaire-billionaire-2026061513022215270

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Nigeria News (Standard)

Abuja Federal High Court Orders INEC to Deregister ADC, Accord Party, Three Others for Poor Poll Performance

Justice Peter Lifu rules affected parties failed constitutional benchmarks; INEC yet to issue official reaction as 2027 polls approach

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Justice Peter Lifu rules affected parties failed constitutional benchmarks; INEC yet to issue official reaction as 2027 polls approach

A Federal High Court sitting in Abuja has directed the Independent National Electoral Commission (INEC) to deregister five political parties, including the African Democratic Congress (ADC) and Accord Party, over their failure to meet constitutional requirements for electoral performance. The judgement was delivered by Justice Peter Lifu on Friday, following a suit brought by former lawmakers who argued that underperforming parties should not remain on the political register ahead of the 2027 general elections.

The affected parties—Action Peoples Party (APP), Action Alliance (AA), Accord Party (AP), Zenith Labour Party (ZLP), and ADC—were said to have failed to win any seat in recent elections or secure at least 25 percent of votes in any state during the last presidential poll. Plaintiffs maintained that keeping parties with little or no electoral support only clutters the ballot and undermines Nigeria’s multiparty democracy.

According to court documents, the suit sought clarification on whether INEC is constitutionally mandated to deregister political parties that do not satisfy Section 225A of the 1999 Constitution (as amended). The plaintiffs claimed that none of the five parties met minimum criteria during the 2023 general election or subsequent by-elections—criteria which include winning seats in the National Assembly or state legislatures, or achieving significant vote thresholds at federal and local levels.

Justice Lifu, in his ruling, agreed with arguments presented by the plaintiffs and ordered INEC to remove the five parties from its register. He stated that allowing such parties to continue operations contradicts constitutional provisions and could erode public confidence in Nigeria’s electoral system. “Keeping political parties that do not meet constitutional standards on the ballot paper is a breach of Section 225A,” Justice Lifu held.

INEC has not issued a public statement regarding the court’s decision as at press time. The ruling is expected to have major implications for smaller parties seeking relevance ahead of Nigeria’s next general elections in 2027. Political analysts say this development may prompt other minor parties to intensify grassroots mobilisation or risk deregistration before future polls.

Source: https://www.pulse.ng/story/court-orders-inec-to-deregister-adc-four-other-political-parties-2026061515172024010

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General Rabe Abubakar’s Body Recovered After Death in Captivity, Military Confirms

Senior Army officials disclose recovery details, say investigation ongoing into circumstances of late general’s detention and demise

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Senior Army officials disclose recovery details, say investigation ongoing into circumstances of late general’s detention and demise

The Nigerian Army has confirmed the recovery of the body of retired General Rabe Abubakar after he died while being held captive. The development was made public on Monday, 15 June 2026, following days of uncertainty regarding the general’s fate and whereabouts.

According to military officials familiar with the situation, General Abubakar’s remains were located and retrieved by a team dispatched to the area where he had been reportedly detained. Details about the location and the group responsible for his captivity were not immediately disclosed by authorities as at press time.

General Abubakar, a former high-ranking officer in the Nigerian Army, was reported missing several days prior to the discovery of his body. His disappearance sparked anxiety within military circles and among his associates, given his long-standing service record and connections across security agencies. The incident has raised fresh concerns about the safety of retired senior officers in the country.

A senior army spokesperson said that efforts were ongoing to ascertain the full circumstances surrounding General Abubakar’s detention and subsequent death. “We are conducting a thorough investigation to determine all those involved and what led to this unfortunate incident,” he stated during a press briefing in Abuja. As at Monday evening, no group had claimed responsibility for his abduction or provided information about negotiations or demands.

The Nigerian Army has assured that it will intensify its search for those responsible for holding General Abubakar captive. Security analysts have called on government to increase protection for both serving and retired officers amid rising security threats nationwide.

Source: https://www.premiumtimesng.com/news/headlines/887874-exclusive-how-general-rabe-abubakars-body-was-recovered-after-death-in-captivity.html

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Nigeria News (Standard)

Rockefeller, Nizam of Hyderabad, Musk Top Global Wealth Rankings Across Decades

World’s richest title shifts from oil and royalty to tech, as Musk becomes first-ever trillionaire in 2026 milestone

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World’s richest title shifts from oil and royalty to tech, as Musk becomes first-ever trillionaire in 2026 milestone

The evolution of the world’s richest individuals from 1900 to 2026 has witnessed a dramatic shift in the sources of wealth, moving from heavy industry and royal treasuries to the modern technology sector. This global trend reflects changing economic realities and has seen figures like John D. Rockefeller, Mir Osman Ali Khan, J. Paul Getty, and most recently Elon Musk hold the title at different times.

At the start of the 20th century, John D. Rockefeller established himself as the world’s wealthiest man through his control of Standard Oil in the United States. Even after antitrust actions forced a breakup of his company in 1911, Rockefeller’s net worth continued to rise due to increased value of the separated companies. By today’s calculations, his fortune would surpass $400 billion. He retained this position until his death in 1937, despite periods of economic downturn such as the Great Depression.

With Rockefeller’s passing and amid the aftermath of World War II, Mir Osman Ali Khan, then Nizam of Hyderabad in present-day India, became globally recognised for his enormous inherited wealth and state treasury filled with gold, silver and rare jewels. In February 1947, TIME magazine named him the world’s richest individual with an estimated fortune of $2 billion at that time—equivalent to tens of billions in today’s value.

From the post-war era into the late 1970s, American oil magnate J. Paul Getty dominated global rich lists by capitalising on new energy concessions secured in the Middle East. His immense petroleum-based fortune was matched by a reputation for frugality until his death in 1976.

The late 1980s saw a brief shift eastwards when Japanese real estate investor Yoshiaki Tsutsumi became the world’s richest during Japan’s asset bubble peak. More recently, fortunes have been built on digital innovation and technology platforms. Elon Musk reached an unprecedented milestone in 2026 by becoming the first person ever to amass a trillion-dollar fortune through ventures spanning software, electric vehicles and space technology.

These changes highlight how advances in industry and shifts in economic power have redefined what it means to be wealthy on a global scale. Experts say Nigeria and other developing economies can learn from these trends by diversifying beyond traditional sectors into emerging areas such as tech innovation.

Source: https://www.pulse.ng/story/world-richest-man-every-decade-2026061514490601835

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