SpaceX IPO makes Musk first trillionaire

Elon Musk has become the world’s first trillionaire following the initial public offering of SpaceX, which raised a record $75 billion and underscored strong investor confidence in his business ventures.

Before the share sale, Forbes estimated Musk’s net worth at around $780 billion. His stake in SpaceX is now valued at approximately $866 billion, and together with his holdings in Tesla and other companies, his wealth is expected to exceed $1.1 trillion when SpaceX shares begin trading, News.Az reports, citing Reuters.

Musk built his reputation through Tesla and SpaceX before expanding his influence with the acquisition of Twitter in 2022. SpaceX, which includes rocket, satellite and artificial intelligence operations, is now the largest contributor to his fortune.

Born in Pretoria, South Africa, Musk studied at the University of Pennsylvania and became known for transforming Tesla into the world’s most valuable automaker. Investors are now betting he can achieve similar success in space technology and artificial intelligence, despite concerns that many of SpaceX’s most ambitious projects may take years to become commercially viable.

Analysts say the company’s valuation reflects not only its financial prospects but also investor confidence in Musk himself, a phenomenon often described as the “Elon premium.” Despite debates over corporate governance and his growing political influence, many investors continue to view Musk as one of the most influential entrepreneurs of his generation.

News.Az 

By Leyla Şirinova