Tesla and SpaceX founder Elon Musk has reportedly achieved a historic financial milestone, becoming the first person in the world to surpass a net worth of $1 trillion.
According to a report published by CNN on Friday, the landmark achievement came after the successful stock market debut of SpaceX, Musk’s aerospace and space exploration company.
The company launched its initial public offering at a price of $135 per share, a development that propelled Musk’s estimated fortune beyond the trillion-dollar threshold.
Listed on the Nasdaq exchange under the ticker symbol SPCX, SpaceX shares climbed sharply to $165 shortly after trading commenced, marking a gain of approximately 22 percent above the IPO price. The surge lifted the company’s market valuation beyond $2 trillion.
Before the public offering, Musk’s wealth had already been estimated at $813 billion. Data from Forbes indicated that his fortune was more than twice that of the world’s second-richest individual, Google co-founder Larry Page, whose net worth is estimated at about $288 billion.
With the latest jump in valuation, Musk’s total wealth now exceeds the combined fortunes of the next three individuals on the Bloomberg Billionaires Index — Larry Page, Sergey Brin, and Oracle co-founder Larry Ellison.
The remarkable valuation has also elevated SpaceX into the ranks of America’s largest publicly traded companies.
The aerospace giant is currently positioned as the sixth most valuable corporation in the United States, behind only Nvidia, Alphabet, Apple, Microsoft, and Amazon.
SpaceX controls several high-profile ventures, including Starlink, its rapidly growing satellite internet network, which has become one of the company’s most profitable businesses.
The company is also linked to xAI, Musk’s artificial intelligence enterprise responsible for developing the Grok chatbot, further strengthening its influence across multiple technology sectors.
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