NEW YORK (AP) — Elon Musk has become the first person in history to surpass a net worth of S1 trillion, following the pricing of SpaceX’s initial public offering at S135 per share.
Musk’s fortune, estimated at S813 billion before the IPO, was already more than double that of the world’s second-richest person, Google co-founder Larry Page. The new valuation pushed Musk’s wealth past the trillion dollar mark, a milestone that rivals the economic output of major nations. According to World Bank data, only 19 countries have GDPs exceeding S1 trillion.
SpaceX shares, trading under the ticker “SPCX,” are set to debut on the Nasdaq Composite. Musk’s fortune could rise further if the stock climbs above its IPO price, though a decline could bring his net worth back below the threshold.
The IPO is expected to generate substantial wealth for employees and investors. Reports suggest about 4,400 SpaceX workers could become millionaires once trading begins. Musk, however, remains the biggest beneficiary due to his 42 percent ownership stake 4.8 billion shares plus 350 million stock options exercisable at S8.39 per share. At the IPO price, his equity stake is valued at roughly S648 billion, with options adding another S44.3 billion.
The milestone has reignited debate over wealth inequality. Oxfam America’s Nabil Ahmed described Musk’s rise as “a new pinnacle of oligarchy,” pointing to the widening gap between the ultra rich and ordinary citizens.
Globally, Musk’s achievement underscores the growing influence of technology entrepreneurs whose companies reshape industries and accumulate unprecedented valuations. SpaceX, which has pioneered reusable rockets and expanded satellite internet through its Starlink project, is now positioned as one of the most valuable aerospace firms in history.
Musk’s trillionaire status highlights both the extraordinary success of SpaceX and the broader questions about concentrated wealth in the 21st century.
