Elon Musk has become the first person in history to achieve a net worth exceeding $1 trillion following the successful public listing of SpaceX on the Nasdaq Stock Market.
SpaceX shares opened at $150 per share on Friday, valuing the aerospace and satellite communications company at more than $1.8 trillion. The listing significantly boosted Musk’s personal wealth, as his stake in SpaceX is now estimated to be worth more than $766 billion.
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Combined with his holdings in Tesla, valued at approximately $280 billion, Musk’s total net worth has reached roughly $1.05 trillion, according to market estimates.
The SpaceX initial public offering (IPO) added more than $180 billion to Musk’s fortune in a single day, cementing his position as the world’s richest individual by a wide margin. His wealth now exceeds the combined fortunes of the next five richest people globally.
SpaceX shares continued to climb during Friday trading, rising about 26 percent to around $170 per share and pushing the company’s market valuation above $2 trillion. Tesla shares also gained approximately 1 percent during the session.
Musk’s rise has been one of the fastest wealth accumulations in modern history. He was first recognized as a billionaire in 2012, with an estimated net worth of $2.4 billion. His fortune surpassed $20 billion in 2019 before surging rapidly as Tesla’s valuation soared and SpaceX expanded its dominance in commercial space launches, satellite communications, and space exploration.
The SpaceX IPO also generated substantial wealth for company employees and executives, creating thousands of new millionaires and several new billionaires through stock ownership.
SpaceX’s Nasdaq debut has made Elon Musk worth approximately 8.6 times Ethiopia’s gross domestic product (GDP), underscoring the extraordinary scale of wealth generated by the world’s largest technology and aerospace companies. With an estimated net worth of $1.05 trillion, Musk’s personal fortune now far exceeds the annual economic output of many nations, including Ethiopia.
Among the world’s wealthiest individuals, Google co-founder Larry Page ranks a distant second with an estimated fortune of approximately $295 billion, followed by Sergey Brin, Jeff Bezos, and Larry Ellison, each with net worths exceeding $200 billion.
