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ELON Musk is now the first person in the world to have a fortune exceeding US$1 trillion following SpaceX’s stock market debut.
TechCrunch reported on Friday (June 12th local time) that the SpaceX founder and CEO holds approximately US$860 billion worth of shares in the rocket company after the stock price was set at US$135 per share ahead of its initial public offering (IPO).
Combined with his ownership in Tesla and the surge in SpaceX’s stock price after it began trading on its first day, Musk’s net worth now exceeds US$1 trillion.
Furthermore, SpaceX’s stock price continued to strengthen in early trading on Friday (June 6th, 2026), further increasing Musk’s wealth.
Musk’s achievement as the world’s first trillionaire comes at a time when he is perceived to have increased influence, but also faces higher levels of public disapproval than ever before.
Musk spent most of 2024 funding Donald Trump’s presidential campaign, totaling approximately US$300 million.
He then became involved in the Trump administration, leading the so-called “Department of Government Efficiency,” which, according to various assessments, failed to cut overall government spending and largely canceled contracts without adequate review of their content or impact.
Last year, Tesla shareholders approved a compensation package for Musk that could reach US$1 trillion, conditional on him increasing the company’s valuation and meeting certain operational targets.
Furthermore, although his 1 billion SpaceX shares cannot be sold unless the company successfully establishes a human colony on Mars, Musk can still use them as collateral to obtain loans.
This allows him to potentially access billions of dollars in cash before that target is reached without having to pay taxes on that wealth.
Although SpaceX now has public shareholders, Musk will still wield immense power in the company as he pursues what has been called the largest potential market in history.
He controls more than 80% of the company’s voting rights, can elect his own board of directors, and has established a corporate structure that significantly limits the potential for legal action against him or the company. [antaranews]
