Elon Musk Becomes World's First Trillionaire After SpaceX IPO

According to Bloomberg, Elon Musk has officially become the world's first trillionaire following SpaceX's IPO on Friday. He possesses approximately $860 billion in company stock, which debuted at $150 per share, reflecting an 11% increase from the initial price of $135. The stock later peaked at $176. Musk will maintain around 80% of the voting rights and has the authority to select the board, which limits potential legal disputes regarding his influence. His overall wealth, factoring in his investments in Tesla, Neuralink, and the Boring Company, has surged to about $1.1 trillion, as reported by The New York Times. Having first claimed the title of the richest individual in 2021, Musk has exchanged it with other billionaires like Larry Ellison and Jeff Bezos. He has held the top position since September 2024, during which time his wealth has doubled. Last year, Tesla shareholders granted him a compensation package that could reach another $1 trillion contingent on achieving operational goals. Despite his immense fortune, Musk commented on X earlier this year, reflecting, "Whoever said money can't buy happiness really knew what they were talking about." Additionally, Gallup identified Musk as the most disliked man in America last year.