The richest person in the world, Elon Musk, completes a new milestone after his net worth hits new heights following a historic round of stock market debut of SpaceX, which boosted his fortune beyond the $1 trillion mark.
SpaceX began trading on the Nasdaq under the ticker SPCX after completing a record-breaking $75 billion IPO, the largest in history. The company sold 555.6 million shares at $135 each, valuing the aerospace and satellite firm at approximately $1.77 trillion.
Shares climbed to around $150 shortly after trading began on Friday, significantly increasing the value of Musk’s stake.
As per Bloomberg and Forbes, Elon Musk’s net worth stood just below $1 trillion before the historic IPO, but the surge in SpaceX shares helped him to secure first spot among the richest persons in the world.
Musk, who serves as SpaceX’s CEO, chairman and chief technical officer, is estimated to own nearly 4.8 billion shares, representing roughly 40 percent of the company.
The IPO has not only helped Musk in soldifying his position over the top rank of the world's most richest persons, but it has also made SpaceX one of the world’s most valuable companies, exceeding multiple major global corporations.
The achievement further extends Musk’s lead as the world’s richest person, with his fortune now far ahead of other billionaires, including Oracle co-founder Larry Ellison.
Several credible analysts mentioned that Elon Musk’s net worth is linked to market performance and is likely to fluctuate with Tesla and SpaceX share prices.
However, strong investor demand and an oversubscribed offering suggest continued enthusiasm for the company’s future in space technology, satellite communications and artificial intelligence infrastructure.
Elon Musk net worth
Elon Musk's net worth is approximately $1.1 trillion (or roughly $971 billion, primarily driven by major platforms such as SpaceX, X (formerly Twitter), and more.
