On Friday, Elon Musk became the first person in history to surpass a net worth of $1 trillion, driven by a surge in the value of his space technology company, SpaceX, following its record-breaking stock market debut.
The founder of Tesla and SpaceX further strengthened his position as the world’s wealthiest individual, with his net worth reaching approximately $1.11 trillion, according to the Bloomberg Billionaires Index.
The milestone followed SpaceX’s listing on the NASDAQ exchange at a valuation of $2.2 trillion. Although the company priced its shares at $135 each, they opened trading at $150 and briefly climbed to $176.50, reflecting strong investor confidence in the company’s prospects across space exploration, telecommunications, and artificial intelligence.
The company’s initial public offering (IPO) generated $75 billion from investors and underwriters before trading commenced on the public market. Musk owns approximately 42% of SpaceX. Bloomberg estimates that Musk’s SpaceX holdings were valued at $767.1 billion at the close of trading, with an additional $53.8 billion in SpaceX stock options. His stake in Tesla is valued at roughly $168 billion, while Tesla-related stock options contribute another $116.4 billion to his wealth.