Musk Becomes World’s First Trillionaire

Elon Musk has become the first person in history to surpass a net worth of $1tn, according to Reuters calculations, following the stock market debut of SpaceX.

The milestone was driven by SpaceX’s record-breaking public offering, which raised $75bn and significantly increased the value of Musk’s stake in the company.

His holding in SpaceX is estimated to be worth around $866bn. Combined with his stakes in Tesla and several other ventures, Musk’s net worth is expected to exceed $1.1tn once trading begins.

Before the listing, Forbes estimated Musk’s fortune at roughly $780bn. The world’s second-richest person, Google co-founder Larry Page, trails by a wide margin.

Musk built his fortune primarily through Tesla and SpaceX before expanding his business empire with the acquisition of Twitter. He is also involved in ventures including Neuralink and The Boring Company.

Analysts say investors continue to place a premium on Musk’s ability to turn ambitious ideas into successful businesses, making confidence in his future projects a major driver of his companies’ valuations.

(reuters, bak)