Musk is the world’s first trillionaire: will the second come from China?

Elon Musk officially became the world’s first trillionaire following SpaceX’s initial public offering on June 12. The public listing highlights a broader shift in how fortunes are made, as artificial intelligence (AI) and other hard technologies increasingly supplant traditional industries as engines of wealth creation. Meanwhile, China has doubled down on strategic industries, including AI, semiconductors and advanced manufacturing, in hopes of consolidating its strength in the technology race with the US. Could this push could see the world’s second trillionaire emerge from China?