SpaceX IPO makes Elon Musk the world's first trillionaire

SpaceX raises record $75b in IPO, pushing Musk's net worth past $1.1 trillion when trading begins Friday

Few business leaders have been as deeply embedded in popular culture as Elon Musk, the ambitious entrepreneur who has become a central figure in internet culture. amassed a fortune that has made him theworld's first trillionaire.

At a time when concerns about inequality are high. public attitudes toward the ultra-wealthy have soured, Musk has managed to retain a loyal following despite hisstratospheric net worthand without the folksy persona that endeared other tycoons such as Warren Buffett to the masses.

While admirers view Musk's no-filter style as part of his appeal, critics have accused him of wielding oligarch-like power, raised concerns about governance at his companies. objected to his increasingly partisan political interventions.

Still, SpaceX, the sprawling rocket, satellite. AI company that together with electric-car maker Tesla form the center of Musk's empire, raised a record $75 billionin its initial public offering on Thursday, highlighting investor enthusiasm for his business ventures. Prior to the share sale,Forbespegged his net worth at roughly $780 billion. far ahead of the man next in line, Alphabet co-founder Larry Page.

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"The second richest person has been hovering around $300 billion. so about less than one-third of what Musk can potentially be worth tomorrow," said Matt Durot, deputy editor atForbes Wealth. "And only one other person, (Oracle founder) Larry Ellison, has ever been worth $400 billion.”

Most of Musk's wealth now rests with SpaceX, where he holds a stake worth roughly $866 billion. Along with Tesla. the rest of his properties, his net worth will exceed $1.1 trillion when the stock begins trading Friday, according toReuterscalculations based on company filings. The tally includes stock components that would vest over time.

Musk became a household name through Tesla. SpaceX before expanding his influence with the $44-billion acquisitionof social media platform Twitter in 2022. The deal gave him a direct channel to hundreds of millions of users. made him a prominent voice on issues ranging from politics and immigration to government spending and free speech.

His move into politics. particularly hisrole in United StatesPresident Donald Trump's Department of Government Efficiency last year, has been among his most contentious ventures. Thepolitical falloutcoincided withweakening Tesla salesin several international markets in 2025 as protests and consumer boycotts targeted the electric vehicle maker.

Musk, 54, was born in Pretoria, South Africa, to a Canadian mother and South African father. He attended the University of Pennsylvania, graduating in 1997.

He took over as Tesla's CEO in 2008 with the conviction that electric vehicles could combine high performance with software-driven features. helping redefine the global automotive industry. Some auto-industry watchers say Tesla’s success –. its trillion-dollar-plus market cap – helped prod traditional automakers to pivot to electric cars.

Many investors are betting he can repeat the feat inspace and artificial intelligence. Yet SpaceX remains cash-hungry,. much of the company's valuation rests on technologies that may take years or decades to become commercially viable.

Beyond Tesla and SpaceX, Musk has co-founded five other companies, includingtunneling startup The Boring Company and brain implant maker Neuralink. As CEO of Tesla, Musk has courted controversy and praise in equal measure.

Read More:French police raid X offices, summon Musk in widening probe

He is credited with turning Tesla into the world's most valuable automaker. Executives at legacy automakers dismissed the threat for years. skeptical that a startup car company could figure out how to mass produce electric vehicles profitably. “He renewed the world's respect for American ingenuity in automotive engineering,” said Bob Lutz, a former General Motors vice chairman.

At the same time, Tesla has faced legal challenges. shareholder concerns tied to its storied CEO, particularly his 2018 pay package, once worth $56 billion.

Musk's influence has become so pervasive. market observers have dubbed the network of businesses around him the "Muskonomy." The phenomenon has given rise to what some investors call the "Elon premium," a valuation boost driven as much by faith in Musk's vision as by traditional financial metrics.

"Much like Tesla, SpaceX is a bet on Elon Musk," said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research. ETFs. "A market cap of $1.5 trillion-$2 trillion would certainly throw all traditional valuation methodologies out the window,. is instead best characterised as the 'Elon Musk premium.'"

The concentration of influence around a single entrepreneur has amplified concerns about corporate governance, conflicts of interest. the risks of tying company fortunes too closely to one individual.

Over the years, Musk has turned clashes with regulators, billionaires, short sellers, journalists. media organisations, includingReuters, into recurring public battles that often unfolded on social media.

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Musk's alliance with Trump followed a familiar pattern. After helping bankroll Trump's return to the White House. serving in a senior advisory role through the administration's DOGE initiative, Musk became one of the president's closest corporate allies.

The relationship later fractured amid disagreements over policy and spending, spilling into a public feud. Though the two have since struck a more conciliatory tone, their falling-out highlighted the increasingly blurred lines between Musk's business empire. political ambitions.

Yet for many investors. concerns about Musk'soften unconventional behaviourare outweighed by his track record of turning ambitious ideas into some of the world's most valuable companies.

"Elon is the Edison of our time," JPMorgan Chase CEO Jamie Dimon said during a recent conversation with Musk. The banker, a former adversary of Musk in a prolonged legal battle, has since become an admirer. Dimon toldCNBClast year that the pair had "hugged it out," and hailed Musk as "our Einstein."

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