By The Washington Times (Business) | Created at 2026-06-12 16:01:15 | Updated at 2026-06-12 18:31:02
3 hours ago
Elon Musk crossed the threshold to become the world’s first trillionaire Friday — at least on paper — after SpaceX priced its initial public offering at $135 a share, pushing his net worth to just over $1 trillion.
The shares, trading under the ticker symbol “SPCX” on the Nasdaq, began trading Friday morning. Mr. Musk’s fortune could climb further if the stock rises above its IPO price, though he could fall below the trillionaire threshold if shares decline.
Before the offering, Mr. Musk was worth an estimated $813 billion — more than twice the fortune of the world’s second-richest person, Google co-founder Larry Page, who is estimated to be worth $288 billion, according to Forbes.
Mr. Musk owns 4.8 billion SpaceX shares, or roughly 42% of the company, along with 350 million stock options exercisable at $8.39 per share, according to the company’s IPO filing with the SEC. At $135 a share, his stake is worth $648 billion, with the options adding another $44.3 billion to his net worth.
Mr. Musk’s paper fortune rivals the annual economic output of most of the world’s nations. Only 19 countries have GDPs exceeding $1 trillion, ranging from the United States to the Netherlands, according to World Bank data.
The IPO is also expected to create significant wealth beyond Mr. Musk. About 4,400 SpaceX employees could become millionaires when the stock begins trading, the New York Times reported.
Oxfam America senior director of economic justice Nabil Ahmed called the milestone a sign of deepening inequality.
“Elon Musk’s rise to trillionaire status marks a new pinnacle of oligarchy,” Mr. Ahmed said in a statement.
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