Elon Musk has reportedly achieved the unprecedented milestone of becoming the world's first trillionaire, a status cemented by the highly anticipated stock market debut of his company, SpaceX. According to the Bloomberg rich list, Mr Musk's total net worth now stands at an estimated $1.11 trillion (approximately £828 billion), solidifying his position as the world's wealthiest individual.
The significant boost to his fortune came as SpaceX, the rocket, telecommunications, and artificial intelligence (AI) firm, made its initial public offering (IPO) on the Nasdaq stock exchange. The company listed with an estimated valuation of $2.2 trillion. Shares were initially offered at $135 each but opened trading at $150, briefly reaching $176.50 before closing at around $161 on Friday, reflecting considerable investor enthusiasm for the space and technology venture.
The IPO successfully raised $75 billion from investors and underwriters prior to the shares becoming publicly traded. Mr Musk's substantial 42% ownership stake in SpaceX provides him with significant control over the company's direction and financial decisions. His holdings in SpaceX alone are estimated to be worth $767.1 billion, supplemented by $53.8 billion in SpaceX options, $168 billion in Tesla shares, and an additional $116.4 billion in Tesla options.
This unprecedented accumulation of wealth has swiftly reignited global debates concerning wealth inequality. Mr Musk's personal fortune is now comparable to the entire economic output of nations such as Poland or Switzerland. Critics, including US Democratic senators Bernie Sanders and Elizabeth Warren, have highlighted this milestone as a 'wake-up call' for the necessity of wealth taxes.
Despite its colossal valuation and Mr Musk's increased net worth, it is important to note that SpaceX is not currently profitable, having reported losses exceeding $9 billion in 2025 and 2026 due to extensive investments in AI and other infrastructure. The company's business model primarily focuses on the manufacture and launch of rockets with reusable components, Starlink internet satellites, and, following its acquisition of xAI, ventures into the artificial intelligence sector. SpaceX has indicated that the capital raised will be used to 'fuel its growth strategy' across these areas, including speculative plans for orbital data centres.