Elon Musk crossed the $1 trillion net worth threshold on Friday after SpaceX priced its initial public offering at $135 a share, making him the first person in history to reach that level of wealth.
According to CBS News, before the IPO, Musk was worth an estimated $813 billion, a fortune more than twice as large as the planet's second-richest person, Google co-founder Larry Page, who is worth an estimated $288 billion, according to Forbes. The $135 share price pushed Musk's total net worth to just over $1.005 trillion.
SpaceX is seeking a valuation of $1.75 trillion, which would make it the largest initial public offering of all time. If it achieves that goal, SpaceX would immediately become one of the world's 10 biggest companies as measured by market capitalization. The shares trade under the ticker symbol "SPCX" on the Nasdaq.
Musk owns 4.8 billion shares of SpaceX, roughly 42% of the company, as well as 350 million stock options exercisable at $8.39 per share, according to the company's IPO filing. At $135 a share, his stake alone is worth $648 billion. His options add another $44.3 billion to that figure.
Founded in 2002, SpaceX builds and operates spacecraft including thousands of satellites deployed in support of its Starlink satellite internet service. Earlier this year, the Texas-based company merged with xAI, Musk's artificial intelligence company that offers the chatbot Grok. SpaceX touted the merger as a key step in its plan to launch a fleet of orbital data centers, satellites designed to deliver computing power. The company's revenue jumped to $18.7 billion in 2025, soaring 33% compared to the previous year. Still, SpaceX failed to turn a profit, registering a loss of $4.9 billion last year.
The IPO is not without critics. Nicolas Owens, an analyst at Morningstar, issued a memo this week criticizing the hoped-for share price. Citing technological challenges faced by the company's AI initiatives, Owens pegged the value of the stock at about $63 a share, less than half of the target price.
The windfall extends beyond Musk. About 4,400 SpaceX workers could become millionaires when the stock begins trading, according to the New York Times. However, Musk cannot sell any of his SpaceX shares until a year after the IPO, according to a financial filing, meaning his trillion-dollar status remains on paper for now.
Oxfam America senior director of economic justice Nabil Ahmed addressed the milestone in a statement. "Elon Musk's rise to trillionaire status marks a new pinnacle of oligarchy," Ahmed said. Oxfam noted that Musk's wealth exceeds that of the bottom 46% of the world's population, or a combined 3.8 billion people. The organization also said his wealth had grown about $550 billion over the past year, which breaks down to more than $1 million per day.
Only 19 countries have GDPs that surpass $1 trillion, ranging from the United States to the Netherlands, according to World Bank data. After the IPO, Musk could hold a major stake in two of the 10 largest companies in the world: Tesla and SpaceX.
