We shouldn't hate the world's first trillionaire; we should encourage Canadians to emulate him. That is the core message from Kim Moody, who argues that success should be celebrated, not punished.
Lessons from a Small Business Background
Moody, who grew up in Fort McMurray, Alberta, watching his family run small businesses, learned early that entrepreneurs risk their own capital, work grueling hours, and face the real possibility of failure. He notes that when it works, they build jobs, payrolls, and community stakes. This asymmetry of private risk and uncertain reward is the engine of every thriving economy.
Elon Musk's Trillion-Dollar Milestone
When Elon Musk became the world's first trillionaire after SpaceX's record-breaking IPO, Moody observed the reaction. SpaceX raised roughly US$75 billion at a valuation near US$2 trillion, making 4,400 employees instant millionaires. Yet, instead of admiration, the political left responded with accusations of a rigged economy and demands for wealth taxes.
One Canadian newspaper initially ran an opinion piece titled “SpaceX IPO makes Elon Musk the first trillionaire. Here’s how to properly hate him,” later changing it after criticism. Moody calls this instinct to instruct readers in the etiquette of resentment troubling.
The True Meaning of Wealth Creation
Moody argues that getting rich by building things people freely choose to buy is not a bad look for capitalism; it is its purpose. Musk didn't find his trillion dollars; he created it. SpaceX collapsed launch costs, broke a government-contractor cartel, Tesla revolutionized the auto industry, and Starlink connects remote areas. He employs over 100,000 people and supports a vast supply chain.
This is not wealth extracted from a fixed pie; it is a bigger pie from which everyone benefits. While one may dislike Musk's politics or fortune, that doesn't change the value of what he built.
Addressing the Fear of Concentrated Wealth
The only serious concern about concentrated wealth is that it can become concentrated power, buying politicians and outcomes. However, Moody suggests that instead of hating the trillionaire, Canada should strive to become the kind of country where the next trillionaire chooses to build. That means encouraging entrepreneurship, not punishing success.
Teaching a generation that success is punished will only yield less of it. The lesson is not how to hate the world's first trillionaire, but how to emulate him.
