Richer than nations: Elon Musk becomes history’s first trillionaire after SpaceX IPO

Elon Musk has now become the first-ever trillionaire in world history after his company SpaceX launched its Initial Public Offering (IPO) and raised more than $75 billion, increasing the value of Musk’s stake in the company.

Based on public disclosures and wealth estimates, his net worth is believed to have exceeded $1 trillion, placing him far ahead of every individual featured on global wealth rankings.

Shareholders continue to back Musk because of his track record of turning high-risk ideas into commercially viable ventures. According to some analysts, this confidence has created an additional valuation premium for businesses associated with the billionaire entrepreneur.

The bulk of Musk’s fortune is tied to his stake in SpaceX, estimated to be worth around $866 billion. Combined with his holdings in Tesla and other assets, his net worth is projected to surpass $1.1 trillion when the stock starts trading on Friday, according to Reuters calculations based on company filings.

After building Tesla and SpaceX into global giants, Musk broadened his reach with the $44-billion takeover of Twitter in 2022. The acquisition provided him with a platform to communicate directly with hundreds of millions of users, amplifying his influence on debates surrounding politics, immigration, government expenditure, and free speech.

In addition to Tesla and SpaceX, Musk has co-founded five other companies, including tunnelling venture The Boring Company and brain-chip developer Neuralink.

Musk remains far ahead of his closest rivals

According to the Bloomberg Billionaires Index, Musk was already the world's wealthiest individual before the SpaceX IPO, with an estimated net worth of about $971 billion. By comparison, Larry Page, the second-richest person on the list, had a fortune of roughly $304 billion, leaving Musk with a wealth lead of more than three times that of his nearest competitor.

Musk’s fortune surpasses the GDP of several nations

Musk’s fortune now exceeds the economic output of several nations. For example, according to projections by the International Monetary Fund (IMF), Taiwan’s gross domestic product stands at roughly $976.7 billion. That means the Tesla and SpaceX founder’s net worth has surpassed the size of an economy that plays a crucial role in the global semiconductor and artificial intelligence supply chain.

His net worth is equivalent to nearly a quarter of India’s economy, which the IMF estimates at about $4.15 trillion.