SpaceX IPO makes Elon Musk the world's first trillionaire
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
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 and amassed a fortune that has made him the world's first trillionaire. At a time when concerns about inequality are high and public attitudes toward the ultra-wealthy have soured, Musk has managed to retain a loyal following despite his stratospheric net worth and 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 and objected to his increasingly partisan political interventions. Quick answers to key questions • 5 QUESTIONS 1 How did SpaceX's IPO affect Elon Musk's net worth? ⌵ SpaceX's IPO raised $75 billion, which is expected to push Elon Musk's net worth past $1.1 trillion, making him the world's first trillionaire. 2 What is the significance of SpaceX's $75 billion IPO? ⌵ The $75 billion IPO represents the largest ever initial public offering, significantly enhancing SpaceX's valuation to approximately $1.77 trillion. 3 What factors contributed to the valuation of SpaceX as $1.77 trillion? ⌵ The $1.77 trillion valuation of SpaceX is driven by its ambitious projects, investor enthusiasm, and the perceived 'Elon Musk premium' based on Musk's influence in technology and innovation. 4 Why do some investors view Elon Musk as a risky investment? ⌵ Investors consider Elon Musk's behavior and governance issues potentially risky due to his unconventional approach and the concentrated power he wields within his companies. 5 How does SpaceX plan to utilize the funds raised from the IPO? ⌵ SpaceX plans to use the IPO proceeds primarily to fund expansion efforts, including the development of its Starlink satellite internet service and ambitious projects related to space infrastructure.
Still, SpaceX, the sprawling rocket, satellite and AI company that together with electric-car maker Tesla form the center 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. Also Read | Elon Musk says Moon can power 1,000x more AI than Earth "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. THE ELON PREMIUM Musk, 54, was born in Pretoria, South Africa, to a Canadian mother and South African father.
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