A new chapter in global wealth creation unfolded this week as Elon Musk became the first person to surpass a net worth of $1 trillion following SpaceX’s public listing.
The development highlights the growing influence of technology and private space companies in creating unprecedented levels of wealth. It also reignites debate over wealth concentration at a time when governments around the world are grappling with economic pressures, rising debt, and widening income gaps.
SpaceX priced its initial public offering at $135 per share, lifting Musk’s estimated fortune from $813 billion to just over $1 trillion, according to calculations based on company filings and Forbes estimates.
The shares, which will trade under the ticker symbol “SPCX”, are expected to begin trading on Friday.
How SpaceX pushed Musk past $1 trillion?
Musk owns 4.8 billion SpaceX shares, representing about 42% of the company. He also holds 350 million stock options exercisable at $8.39 per share.
At the IPO price of $135, Musk’s shareholding is valued at approximately $648 billion, while his stock options add another $44.3 billion.
Because Forbes had previously valued his SpaceX stake at around $500 billion, the IPO increased the value of his holdings by an estimated $192.3 billion.
That increase pushed his total net worth to approximately $1.005 trillion.
The figure places Musk far ahead of the world’s second-richest person, Google co-founder Larry Page, whose wealth is estimated at $288 billion.
Wealth gap debate returns
The scale of Musk’s fortune has drawn attention from economists and advocacy groups.
According to Oxfam, Musk’s wealth now exceeds that of the bottom 46% of the global population combined, representing roughly 3.8 billion people.
Nabil Ahmed, Oxfam America senior director of economic justice, described the development as evidence of growing wealth concentration.
“Elon Musk’s rise to trillionaire status marks a new pinnacle of oligarchy,” Ahmed said.
The IPO is also expected to create wealth for thousands of SpaceX employees and investors. Reports suggest around 4,400 employees could become millionaires following the stock market debut.
While the long-term valuation of SpaceX will depend on market performance, the company’s public listing has already become one of the most closely watched financial events of the year.
Last modified: June 12, 2026
