Elon Musk has become the world’s first trillionaire after the hugely successful initial public offering (IPO) of SpaceX. The listing sharply increased the value of his business empire and pushed his personal wealth above USD 1.1 trillion. According to Reuters calculations based on company filings and Forbes estimates, SpaceX is now the biggest contributor to Musk’s fortune.
Before the SpaceX IPO, Musk was already the world’s richest person, with a fortune of around USD 971 billion, according to the Bloomberg Billionaires Index.
The second-richest person, Google co-founder Larry Page, had an estimated net worth of about USD 304 billion. This means Musk was already worth more than three times as much as his nearest rival.
Is Musk Now Richer Than Entire Economies?
Musk’s wealth is now greater than the size of Taiwan’s economy. According to estimates from the International Monetary Fund (IMF), Taiwan’s economy is worth around USD 976.7 billion. Taiwan is a global leader in artificial intelligence chips and semiconductor manufacturing.
Musk’s fortune is also equal to roughly one-quarter of India’s GDP, which is estimated at $4.15 trillion.
What Role Did the SpaceX IPO Play?
The biggest increase in Musk’s wealth came from SpaceX’s record-breaking USD 75 billion IPO, which Reuters reported was the largest IPO in history. Before the share sale, Forbes estimated Musk’s wealth at about USD 780 billion. His stake in SpaceX is now worth around USD 866 billion, making it the largest part of his fortune.
Combined with his holdings in Tesla and other businesses, Musk’s wealth is expected to exceed USD 1.1 trillion. Matt Durot, deputy editor at Forbes Wealth, told Reuters that no other billionaire has come close to Musk’s level of wealth. He noted that only one other person, Oracle founder Larry Ellison, has ever reached a fortune of USD 400 billion.
About Elon Musk
Musk was born in Pretoria, South Africa, in 1971. He studied at the University of Pennsylvania and graduated in 1997. Over the following decades, he built several successful companies and became one of the most influential business leaders in the world.
Musk became widely known through Tesla and SpaceX. As Tesla’s chief executive, he helped turn electric vehicles from a niche product into a mainstream technology. His work pushed traditional car manufacturers to speed up their own electric vehicle plans.
Bob Lutz, former vice-chairman of General Motors, said Musk helped restore global respect for American automotive engineering.
What Other Businesses Does Musk Own?
Apart from Tesla and SpaceX, Musk has co-founded several companies, including Neuralink, which develops brain-implant technology, and The Boring Company, which focuses on underground transport systems.
In 2022, he also bought Twitter for $44 billion and later renamed the social media platform X, expanding his influence beyond the technology sector.
What Is the ‘Elon Premium’?
Many investors believe Musk’s businesses are worth more because of his reputation, vision and track record. This idea is often called the ‘Elon premium’. Analysts say SpaceX’s valuation reflects investor confidence in Musk as much as confidence in the company itself.
Matt Kennedy, senior strategist at Renaissance Capital, said a valuation of USD 1.5 trillion to USD 2 trillion for SpaceX would be difficult to justify using traditional methods and is better explained by the “Elon Musk premium”.
What Does This Milestone Mean?
Musk’s rise to trillionaire status comes as debates about wealth inequality and the influence of billionaires continue around the world. Supporters see him as a visionary entrepreneur who takes risks and drives innovation. Critics argue that his wealth and influence have become too powerful.
Whatever the view, Musk has achieved a financial milestone never before seen in modern history. From a young entrepreneur in South Africa to the world’s first trillionaire, his rise has reshaped the limits of personal wealth.
First published on: Jun 12, 2026 11:59 AM IST
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