Elon Musk has become the world’s first trillionaire after the initial public offering of SpaceX boosted his fortune beyond the $1 trillion mark.

The milestone follows SpaceX’s record $75 billion IPO on Thursday, highlighting strong investor demand for the rocket, satellite and artificial intelligence company that sits at the centre of Musk’s business empire alongside Tesla.

Before the share sale, Forbes estimated Musk’s net worth at about $780 billion, already well ahead of other global billionaires, including Larry Page.

“The second richest person has been hovering around $300 billion, so about less than one-third of what Musk can potentially be worth tomorrow,” said Matt Durot, deputy editor at Forbes Wealth. “And only one other person, (Oracle founder) Larry Ellison, has ever been worth $400 billion.”

According to Reuters calculations based on company filings, most of Musk’s wealth is tied to his SpaceX holdings, which are valued at about $866 billion. Combined with his stakes in Tesla and other assets, his net worth is expected to exceed $1.1 trillion when SpaceX shares begin trading on Friday.

Musk first became a household name through Tesla and SpaceX before further expanding his influence with the $44 billion acquisition of social media platform X, formerly Twitter, in 2022. The purchase gave him direct access to hundreds of millions of users and increased his prominence in debates on politics, immigration, government spending and free speech.

His growing involvement in politics has also attracted scrutiny. His role in US President Donald Trump’s Department of Government Efficiency last year proved controversial and coincided with weaker Tesla sales in several international markets during 2025, as protests and consumer boycotts targeted the company.

Born in Pretoria, South Africa, Musk studied at University of Pennsylvania, graduating in 1997.

He took over as Tesla’s chief executive in 2008 with the belief that electric vehicles could combine high performance with advanced software features. Industry analysts say Tesla’s rise and its trillion-dollar-plus valuation helped accelerate the global shift by traditional carmakers towards electric vehicles.

Despite criticism over his political views, corporate governance and growing influence, Musk has retained a loyal following and remains one of the most recognisable figures in global business and technology. The SpaceX IPO further strengthens his position at the top of the world’s wealth rankings, setting a new benchmark in corporate and personal wealth. (Arise News)