Elon Musk Becomes World’s First Trillionaire Following SpaceX IPO

Tesla and SpaceX Chief Executive Officer, Elon Musk, has become the first person in history to surpass a $1 trillion net worth, following the successful public listing of SpaceX.

 

According to a report by CNN on Friday, Musk’s wealth crossed the historic threshold after investors responded strongly to SpaceX’s debut on the stock market.

 

SpaceX launched its initial public offering (IPO) at $135 per share, with shares trading under the ticker symbol SPCX on the Nasdaq exchange.

 

Shortly after trading began, the stock rose to $165 per share, representing an increase of about 22 per cent from its IPO price and pushing the company’s market valuation above $2 trillion.

 

Before the IPO, Musk’s net worth was already estimated at $813 billion, according to Forbes.

 

The latest surge in SpaceX’s value elevated his fortune beyond the $1 trillion mark, making him the wealthiest individual ever recorded.

 

Forbes estimates that Musk’s wealth is more than double that of the world’s second-richest person, Google co-founder Larry Page, whose net worth is reported at approximately $288 billion.

 

The report noted that Musk’s fortune now exceeds the combined wealth of several top billionaires, including Larry Page, Google co-founder Sergey Brin, and Oracle founder Larry Ellison.

 

The strong market performance also places SpaceX among the largest publicly traded companies in the United States, ranking behind only a handful of technology giants, including Nvidia, Alphabet, Apple, Microsoft, and Amazon.

 

SpaceX operates a number of high-profile ventures, including Starlink, its satellite internet service, and xAI, Musk’s artificial intelligence company responsible for developing the Grok chatbot.