Elon Musk has become the world’s first trillionaire after the blockbuster initial public offering of SpaceX pushed the entrepreneur’s estimated net worth above the $1 trillion mark, according to Forbes.
SpaceX began trading on the Nasdaq on Friday after pricing its IPO at $135 per share, valuing the company at nearly $2 trillion. Shares opened at $150, giving the space company a market capitalization of about $2 trillion and boosting Musk’s estimated fortune to $1.1 trillion, Forbes said.
The milestone marks a new chapter in the rapid accumulation of wealth among technology entrepreneurs, as private companies linked to artificial intelligence, space and advanced manufacturing create fortunes at an unprecedented pace.
Forbes estimated that Musk’s net worth increased by $188 billion after SpaceX priced its shares, rising from an estimated $982 billion on Thursday evening to $1.1 trillion following the market debut.
Musk, who serves as SpaceX’s chairman, chief executive and chief technology officer, owns about 4.8 billion shares in the company valued at roughly $715 billion, along with another 350 million stock options worth about $50 billion, giving him an estimated 38% stake, according to Forbes.
The SpaceX listing adds to Musk’s holdings across several technology companies, including electric vehicle maker Tesla and artificial intelligence ventures, reinforcing his position as the world’s wealthiest individual.
Musk first appeared on Forbes’ annual billionaire rankings in 2012 with an estimated fortune of $2 billion, placing him at No. 634 globally. He became the world’s richest person for the first time in January 2021 after a surge in Tesla’s share price pushed him ahead of Amazon founder Jeff Bezos.
“Elon Musk’s ascent to a $1 trillion fortune represents a milestone once considered unimaginable, highlighting how rapidly wealth can be created in an increasingly interconnected and technology-driven world,” said Matt Durot, deputy editor of wealth at Forbes.
Randall Lane, chief content officer at Forbes, said, “No other media brand combines the same depth of historical wealth data, editorial credibility, and global reach, making Forbes the most trusted source for understanding who holds the world’s wealth, how it was created, and how it continues to shape the global economy.”
The listing also underscores the growing economic influence of private space companies as commercial demand for satellite launches, space infrastructure and related technologies expands.
In a recent interview with Forbes, Musk predicted rapid advances in artificial intelligence and robotics, saying: “In five years, digital intelligence will exceed the sum of all human intelligence. In five years, there might be at least 100 million humanoid robots, but maybe a billion.”
“I predict the economy is probably twice its current size in five, maybe six, years. In five to seven years, you’re going to hit a doubling period, in plus or minus a few years, you’ll see giant changes,” he added.
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Faustine Ngila is the AI Editor at Impact Newswire, based in Nairobi, Kenya. He is an award-winning journalist specializing in artificial intelligence, blockchain, and emerging technologies.
He previously worked as a global technology reporter at Quartz in New York and Digital Frontier in London, where he covered innovation, startups, and the global digital economy.
With years of experience reporting on cutting-edge technologies, Faustine focuses on AI developments, industry trends, and the impact of technology on society.
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