Elon Musk becomes world’s first trillionaire after SpaceX IPO

SpaceX founder and Chief Executive Officer, Elon Musk, has become the first person in history to surpass a net worth of $1 trillion following the stock market debut of his rocket company, according to a report by CNN.

The milestone was achieved on Friday after SpaceX priced its initial public offering at $135 per share, lifting Musk’s estimated fortune to just over $1 trillion.

Shares of SpaceX, trading under the ticker symbol “SPCX” on the Nasdaq, rose to $165 shortly after markets opened, about 22 per cent above the IPO price.

The gain pushed SpaceX’s valuation above $2 trillion, making it one of the most valuable publicly traded companies in the United States.

Before the listing, Musk was already worth an estimated $813 billion.

According to Forbes, that figure was more than double the fortune of the world’s second-richest person, Larry Page, whose wealth was estimated at about $288 billion.

Musk’s fortune now exceeds the combined wealth of the next three names on the Bloomberg Billionaires Index, Google co-founders Larry Page and Sergey Brin, as well as Larry Ellison.

At its current valuation, SpaceX ranks as the sixth-largest publicly traded company in the United States, behind Nvidia, Alphabet, Apple, Microsoft and Amazon.

SpaceX is the parent company of Starlink, which provides satellite internet services, and xAI, Musk’s artificial intelligence venture that operates the Grok chatbot.

The latest development further strengthens Musk’s position as the world’s wealthiest individual, driven largely by the rapid growth and market value of his businesses.