06/07/2026
This headline caught my attention.
The world's first trillionaire (with a 'T') is set to be created this week.
SpaceX's IPO is set to go live this week at $135/share. Elon Musk is expected to retain about 42% of the company's shares. Add his stake in Tesla, and his net worth clears $1 trillion.
As an estate planning attorney, there's a massive estate planning issue at hand.
He has 14 children. Multiple households. No spouse.
That last one would eliminate the marital deduction deferment technique, which is the single most powerful wealth transfer tool in the Internal Revenue Code.
At 40% estate tax on $1 trillion+, that's potentially $400 billion owed to the IRS within 9 months of death, from an almost entirely illiquid estate.
Most of my clients will never face the degree of Elon's estate tax problems. But the core issue is this: concentrated, illiquid wealth + family complexity + no plan = a crisis your heirs inherit.
If a liquidity event - IPO, sale, or inheritance - is on your horizon, now is the time to build the structure. Not after.
Feel free to reach out if you'd like to talk through what that looks like.