SpaceX IPO makes Elon Musk the world’s first trillionaire

At a time when concerns about inequality are high and public attitudes toward the ultra-wealthyhave soured, opens new tab, 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, raisedconcerns about governanceat his companies and objected to his increasingly partisan political interventions. Still,SpaceX, the sprawling rocket, satellite and AI company that together with electric-car maker Tesla form the center of Musk’s empire, raiseda record $75 billionin its initial public offering on Thursday, highlighting investor enthusiasm for his business ventures, ​and surged in its first day of trading.

Following the share sale, Forbes pegged his net worth at roughly $1.1 trillion, far ahead of the man next in line, Alphabet co-founder Larry Page. 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.