SpaceX IPO propels Elon Musk to become world’s first trillionaire

SpaceX’s record-breaking initial public offering (IPO) has propelled Elon Musk to become the world’s first trillionaire, marking a historic milestone in global wealth rankings.

The company raised a record $75 billion in its IPO on Thursday, underscoring strong investor confidence in Musk’s business empire. Prior to the share sale, Forbes estimated Musk’s net worth at around $780 billion, already placing him far ahead of other billionaires.

According to Reuters calculations based on company filings, Musk’s stake in SpaceX is now valued at roughly $866 billion, pushing his total net worth above $1.1 trillion as trading begins on Friday.

Analysts say the unprecedented surge places Musk well ahead of other wealthy figures, with the second-richest individuals remaining far below the trillion-dollar mark. Forbes Wealth Deputy Editor Matt Durot noted that no other billionaire has come close to Musk’s projected valuation.

Musk, who built his fortune through Tesla, Inc. and SpaceX, expanded his influence further after acquiring social media platform X Corp. in 2022 for $44 billion.

Despite criticism over his growing political involvement and corporate governance controversies, investors continue to back Musk’s ventures, cementing his position as one of the world’s most influential business figures.

The 54-year-old entrepreneur, born in Pretoria, has transformed industries ranging from electric vehicles to space technology, with Tesla’s success accelerating the global shift toward electric transportation.