Elon Musk is now the world’s first trillionaire after SpaceX’s public markets debut on Friday, according to Bloomberg News.
The SpaceX founder and CEO owned roughly $860 billion worth of the rocket company’s stock after it was priced at $135 per share just ahead of the IPO. Combined with his stake in Tesla, and the immediate pop of SpaceX’s stock on Friday after it began trading, that’s enough to give the tech magnate — already the richest person in the world — an on-paper wealth of more than $1,000,000,000,000.
SpaceX’s stock continued to climb on Friday in early trading, adding to Musk’s wealth.
Musk’s ascendance to trillionaire status comes at a time when he is more disliked and more powerful than ever.
Musk spent much of 2024 funding Donald Trump’s presidential campaign, to the tune of around $300 million. He then got involved in the Trump administration, leading the so-called “Department of Government Efficiency” — which, by all accounts, did not cut overall government spending and mostly involved canceling a number of contracts with little review or care for their contents.
