Elon Musk became the world’s first trillionaire on Friday after the highly anticipated public debut of SpaceX pushed his net worth beyond the $1 trillion mark, further cementing his position as the wealthiest person in modern history.
The milestone follows SpaceX’s SPCX record-breaking initial public offering, which raised $75 billion and valued the company at approximately $1.77 trillion.
Shares climbed to $158.51 after the debut, significantly increasing the value of Musk’s majority stake in the aerospace and satellite company.
Prior to the IPO, Musk was already the world’s richest person.
According to Bloomberg calculations, his SpaceX stake is worth around $765 billion, while his holdings in Tesla account for approximately $279 billion.
Neuralink and The Boring Company contribute roughly $3 billion each to his overall fortune.
The rise in SpaceX shares pushed Musk’s wealth above the trillion-dollar threshold, creating a milestone that no individual has previously achieved.
SpaceX IPO propels Musk’s fortune
SpaceX’s public debut marked the largest IPO in US history, highlighting continued investor enthusiasm for Musk’s business empire.
Reuters calculations based on company filings estimated that Musk’s net worth would exceed $1.1 trillion once SpaceX began trading. The calculation includes stock components that would vest over time.
The company’s soaring valuation has transformed it into the largest contributor to his personal fortune, surpassing even Tesla.
Matt Durot, deputy editor at Forbes Wealth, highlighted the scale of Musk’s lead over other billionaires.
“The second richest person has been hovering around $300 billion, so about less than one-third of what Musk can potentially be worth tomorrow,” Durot said. “And only one other person, (Oracle founder) Larry Ellison, has ever been worth $400 billion.”
The achievement has fueled discussion about whether Musk may be the richest individual in recorded history.
From Tesla pioneer to global business empire
Musk first became widely known through Tesla and SpaceX before expanding his influence through ventures including Neuralink, The Boring Company and social media platform X, formerly Twitter.
Born in Pretoria, South Africa, Musk attended the University of Pennsylvania and later became one of the most influential entrepreneurs of his generation.
Many investors now view SpaceX and its associated businesses, including Starlink and artificial intelligence initiatives, as the next stage of Musk’s growth story.
The ‘Elon premium’ continues to drive investor enthusiasm
Despite concerns about corporate governance, political involvement and valuation levels, investors have continued to assign premium valuations to Musk-led companies.
Market observers often refer to this phenomenon as the “Elon premium,” reflecting investor confidence in Musk’s ability to turn ambitious ideas into commercially successful businesses.
Matt Kennedy, senior strategist at Renaissance Capital, said in a Reuters report that investor interest in SpaceX is closely tied to Musk himself.
“Much like Tesla, SpaceX is a bet on Elon Musk,” Kennedy said.
“A market cap of $1.5 trillion-$2 trillion would certainly throw all traditional valuation methodologies out the window, and is instead best characterized as the ‘Elon Musk premium.'”
Musk’s influence extends beyond business into politics, technology and social media.
While critics have raised concerns about the concentration of power around a single entrepreneur, supporters continue to point to his record of building industry-defining companies.
Even longtime critics have become admirers. JPMorgan Chase CEO Jamie Dimon recently praised Musk’s achievements.
“Elon is the Edison of our time,” Dimon said during a recent conversation with Musk.
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