SpaceX IPO makes Elon Musk the world's first trillionaire
FEW business leaders have become as intertwined with popular culture as Elon Musk. The entrepreneur has evolved into a dominant figure in the digital age, building a vast business empire and securing a place among the world's wealthiest individuals.
At a time when concerns over inequality are growing and public sentiment toward billionaires is increasingly sceptical, Musk has managed to maintain a devoted following. Unlike business icons such as Warren Buffett, whose down-to-earth image endeared him to many, Musk's appeal stems from his bold ambitions, unconventional personality, and willingness to speak his mind.
Supporters see his unfiltered approach as refreshing and authentic. Critics, however, argue that his immense influence resembles that of an oligarch, questioning governance practices within his companies and expressing concern over his increasingly partisan political involvement.
Still, SpaceX, the sprawling rocket, satellite and AI company that together with electric-car maker Tesla form the centre of Musk's empire, raised a record $75 billion in its initial public offering on Thursday, highlighting investor enthusiasm for his business ventures. Prior to the share sale, Forbes pegged his net worth at roughly $780 billion, far ahead of the man next in line, Alphabet co-founder Larry Page.
"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 at Forbes 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 and the rest of his properties, his net worth will exceed $1.1 trillion when the stock begins trading Friday, according to Forbes and Reuters calculations based on company filings.
Musk became a household name through Tesla and SpaceX before expanding his influence with the $44-billion acquisition of social media platform Twitter in 2022. The deal gave him a direct channel to hundreds of millions of users and made him a prominent voice on issues ranging from politics and immigration to government spending and free speech.
His move into politics, particularly his role in U.S. President Donald Trump's Department of Government Efficiency last year, has been among his most contentious ventures. The political fallout coincided with weakening Tesla sales in several international markets in 2025 as protests and consumer boycotts targeted the electric vehicle maker.
