Elon Musk has become the world’s first trillionaire after the public listing of SpaceX sent his fortune soaring to an estimated $1.11 trillion, further cementing his position as the richest person on the planet.
His new wealth followed the successful debut of SpaceX on the Nasdaq stock exchange, where the rocket, telecommunications and artificial intelligence company attained a market valuation of about $2.2 trillion amid strong investor demand.
Although the company priced its shares at $135, trading opened at $150 and climbed as high as $176.50 before closing at around $161 on Friday. The initial public offering raised approximately $75 billion from investors and underwriters.
According to the Bloomberg Billionaires Index, Musk’s 42 per cent stake in SpaceX was valued at $767.1 billion at the close of trading, while his options in the company were worth another $53.8 billion. He also holds Tesla shares valued at $168 billion and Tesla stock options estimated at $116.4 billion.
The unprecedented wealth boost reignited debate over inequality and the concentration of economic power. Critics noted that Musk’s personal fortune now rivals the annual economic output of countries such as Poland and Switzerland. Democratic lawmakers, including Senators Bernie Sanders and Elizabeth Warren, called the development a reminder of the need for stronger wealth taxation policies.
Despite the soaring valuation, analysts pointed out that Musk’s fortune exists largely on paper, as it is tied to his stock holdings. He is also barred from selling SpaceX shares for at least one year. SpaceX itself remains unprofitable, reporting losses exceeding $9 billion over 2025 and 2026 due to heavy investments in artificial intelligence and infrastructure expansion.
Nevertheless, investors remain optimistic about the company’s long-term prospects. Beyond its rocket and Starlink satellite businesses, SpaceX has expanded into artificial intelligence following its acquisition of xAI.
