Elon Musk has become the first individual in history to amass a net worth exceeding $1 trillion, following the highly anticipated stock market debut of his aerospace company, SpaceX.
The milestone was achieved after SpaceX priced its initial public offering (IPO) at $135 per share, a development that significantly boosted the value of Musk’s holdings in the company and lifted his estimated fortune above the trillion-dollar mark.
Shares of SpaceX, trading on the Nasdaq under the ticker symbol “SPCX,” rose sharply shortly after trading commenced on Friday, climbing about 22 per cent to approximately $165 per share. The surge pushed the company’s valuation beyond $2 trillion and cemented its position among the largest publicly traded firms in the United States.
Before the IPO, Musk’s wealth was estimated at about $813 billion, already making him the world’s richest person by a substantial margin. According to Forbes estimates, his fortune was more than twice that of Larry Page, whose net worth stands at roughly $288 billion.
The SpaceX listing added hundreds of billions of dollars to the value of Musk’s holdings. Company filings show that Musk owns approximately 4.8 billion shares, representing about 42 per cent of the company. He also holds around 350 million stock options exercisable at $8.39 per share.
Based on the IPO price of $135 per share, Musk’s equity stake in SpaceX is valued at approximately $648 billion, while his stock options contribute an additional $44.3 billion. Analysts estimate that the public offering increased the value of his SpaceX holdings by more than $190 billion, pushing his overall net worth to an estimated $1.005 trillion.
The achievement places Musk’s wealth above the combined fortunes of several of the world’s wealthiest individuals, including Larry Page, Sergey Brin and Larry Ellison.
At its current valuation, SpaceX ranks as the sixth-largest publicly traded company in the United States, trailing only Nvidia, Alphabet, Apple, Microsoft and Amazon.
SpaceX’s business portfolio extends beyond rocket launches. The company owns Starlink, a rapidly expanding satellite internet network, as well as xAI, Musk’s artificial intelligence venture behind the Grok chatbot.
The development has reignited discussions about global wealth inequality. Commenting on the milestone, Nabil Ahmed, Senior Director of Economic Justice at Oxfam America, described Musk’s rise to trillionaire status as evidence of the growing concentration of wealth among a small group of individuals.
The IPO is also expected to create significant wealth for thousands of SpaceX employees and investors. Reports indicate that about 4,400 workers could become millionaires as a result of the company’s public listing.
Musk, however, remains the principal beneficiary, thanks to his substantial ownership stake and stock options. While his fortune could continue to rise if SpaceX shares maintain their momentum, market fluctuations could also see his net worth fall below the trillion-dollar threshold in the future.
The historic milestone nevertheless marks an unprecedented moment in global finance, highlighting the extraordinary wealth generated by the technology and space industries in recent decades.
