Elon Musk has become the first person in world history to reach a net worth of more than $1 trillion, according to estimates released following the blockbuster public debut of space
According to estimates attributed to Forbes, Musk’s wealth climbed to approximately $1.1 trillion by midday Eastern Time on Friday, rising sharply from about $982 billion on Thursday, after SpaceX priced its historic initial public offering (IPO) at $135 per share.
The listing immediately became one of the biggest moments in financial market history. SpaceX’s market value surged beyond $2 trillion as trading opened and shares advanced strongly, making it the largest IPO on record and pushing Musk’s holdings to unprecedented levels.
Much of Musk’s fortune remains tied to equity holdings rather than cash and is concentrated across companies including tesla.com, spacex.com, neuralink.com and boringcompany.com. Reuters estimates SpaceX now accounts for the largest portion of his wealth.
The milestone is expected to intensify debate over wealth concentration, market valuations and the growing influence of technology and space companies in the global economy
