Musk set to become world's 1st trillionaire after SpaceX IPO
What's the story
Elon Musk, the tech mogul behind Tesla and SpaceX, is on the verge of becoming the world's first trillionaire. His net worth is set to cross the $1.1 trillion mark after a record-breaking $75 billion initial public offering (IPO) by his rocket company SpaceX. The Bloomberg Billionaires Index (BBI), Forbes, and Reuters have all confirmed this projection based on company filings.
Wealth breakdown
Musk's net worth surge
Musk's net worth is largely tied to his stakes in Tesla and SpaceX. He owns a stake in SpaceX worth around $866 billion. When combined with his holdings in Tesla and other assets, this pushes his net worth over the $1 trillion threshold. At the time of writing, Bloomberg estimates Musk's net worth at $971 billion, an increase of $274 billion from yesterday.
Cultural impact
Musk's influence extends beyond business
Musk's influence goes beyond his business ventures. He gained fame through Tesla and SpaceX, and further expanded his reach with the $44-billion purchase of Twitter in 2022. The acquisition gave him direct access to hundreds of millions of users and made him a prominent voice on various issues, including politics, immigration, government spending, and free speech.
Political controversies
Controversial political moves
Musk's foray into politics, especially his role in US President Donald Trump's Department of Government Efficiency last year, has been controversial. The political fallout coincided with declining Tesla sales in several international markets in 2025 as protests and consumer boycotts targeted the electric vehicle maker. Despite these challenges, Musk's business ventures continue to attract investor enthusiasm.
Business ventures
Journey from South Africa to Silicon Valley
Musk was born in Pretoria, South Africa, to a Canadian mother and South African father. He graduated from the University of Pennsylvania in 1997 and became Tesla's CEO in 2008. His vision of electric cars that deliver performance with software-driven features has redefined the global automotive industry. Now, investors are betting he can do the same with space travel and artificial intelligence (AI).