NEW YORK: Tech entrepreneur Elon Musk has cemented his place in business history after becoming the world’s first trillionaire, following the record-breaking public listing of SpaceX.
SpaceX, the aerospace, satellite and artificial intelligence giant founded by Musk, raised an unprecedented US$75 billion in its initial public offering (IPO), making it the largest share sale ever recorded. The blockbuster listing pushed Musk’s estimated net worth beyond US$1.1 trillion, according to financial estimates based on company filings.
The historic milestone places Musk far ahead of other global billionaires, with his wealth now more than three times that of many of the world’s richest individuals. Most of his fortune is tied to SpaceX, where his stake is valued at around US$866 billion, while additional holdings in Tesla, Neuralink, The Boring Company, and other ventures further boost his wealth.
Musk, who transformed Tesla into the world’s most valuable automaker and revolutionised the private space industry through SpaceX, continues to attract strong investor confidence. Analysts say the company’s soaring valuation reflects optimism about future breakthroughs in space exploration, satellite technology, artificial intelligence and next-generation communications.
Industry observers credit Musk with reshaping multiple sectors, from electric vehicles and renewable energy to commercial spaceflight. His influence has become so significant that investors often refer to the ecosystem of companies around him as the “Muskonomy.”
Despite facing criticism over his political involvement, management style and outspoken social media presence, Musk remains one of the most influential figures in global business. Supporters view him as a visionary entrepreneur whose ambitious ideas have repeatedly transformed industries once considered impossible to disrupt.
The SpaceX IPO marks another milestone in Musk’s remarkable journey—from a young entrepreneur in South Africa to the first person in history to build a fortune exceeding one trillion US dollars. As SpaceX begins trading on Wall Street, investors and industry leaders alike will be watching closely to see how far the Musk-led empire can grow in the years ahead.
