South African-born tech magnate, Mr Elin Musk has (on paper) become the world’s first trillionaire.

The feat follows the businessman’s initial public offering (IPO) of his company, SpaceX’s shares soaring his net worth when it hit the stock market.
The record-breaking debut of SpaceX, which raised $75 billion in its IPO on Thursday, cemented Musk’s position as the richest person on the planet by a wide margin.

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According to Forbes estimates and Reuters calculations based on company filings, Musk’s net worth is expected to exceed $1.1 trillion when SpaceX shares begin trading on Friday.

The achievement marks a new chapter in the rise of the South African-born entrepreneur, whose business empire spans electric vehicles, space exploration, artificial intelligence, social media, brain-computer interfaces and infrastructure project.

Elon Musk’s current net worth now makes the first individual in history to cross the $1 trillion net worth milestone, following the pricing of SpaceX’s long-anticipated IPO, Thursday.

The SpaceX IPO which was priced at $135 per share raised about $75 billion.

The listing values SpaceX at approximately $1.77 trillion, making it one of the world’s most valuable publicly traded companies and surpassing Saudi Aramco’s 2019 listing as the largest IPO in history.

According to the company’s prospectus, Musk will own about 849.5 million Class A shares and 5.57 billion Class B shares after the offering, giving him 84.4 per cent of the company’s voting power. At the IPO price, his SpaceX stake is valued at roughly $866.5 billion.

Combined with his estimated 717.1 million Tesla shares, worth about $286.2 billion based on recent market prices, Musk’s holdings are valued at around $1.1 trillion on paper.

However, the milestone remains largely theoretical, as it depends on SpaceX maintaining its valuation after trading begins and Tesla’s share price remaining strong.

Part of the valuation also includes performance-based stock awards tied to ambitious goals such as establishing a permanent human colony on Mars and developing large-scale space-based computing infrastructure.

Despite its soaring valuation, SpaceX remains loss-making. The company reported revenue of $18.7 billion in 2025, up from $14 billion the previous year, while posting a net loss of $4.9 billion.