SpaceX IPO makes Elon Musk the world's first trillionaire

Few business leaders have been as deeply embedded in popular culture as Elon Musk, the ambitious entrepreneur who has become a central figure in internet culture and amassed a fortune that has ​made him the world's first trillionaire.
At a time when concerns about inequality are high and public attitudes toward the ultra-wealthy have soured, opens new tab, Musk has managed to retain a loyal following despite his stratospheric net worth ‌and without the folksy persona that endeared other tycoons such as Warren Buffett to the masses.

While admirers view Musk's no-filter style as part of his appeal, critics have accused him of wielding oligarch-like power, raised concerns about governance at his companies and objected to his increasingly partisan political interventions.
Still, SpaceX, the sprawling rocket, satellite and AI company that together with electric-car maker Tesla form the center of Musk's empire, raised a record $75 billion in its initial public offering on Thursday, highlighting investor enthusiasm for his business ventures. Prior to the share sale, Forbes pegged his net ​worth at roughly $780 billion, far ahead of the man next in line, Alphabet co-founder Larry Page.

"The second richest person has been hovering around $300 billion, so about less than one-third of what Musk can potentially be worth ​tomorrow," said Matt Durot, deputy editor at Forbes Wealth. "And only one other person, (Oracle founder) Larry Ellison, has ever been worth $400 billion.”
Most of Musk's wealth now rests with SpaceX, where ⁠he holds a stake worth roughly $866 billion. Along with Tesla and the rest of his properties, his net worth will exceed $1.1 trillion when the stock begins trading Friday, according to Reuters calculations based on company filings. The tally includes ​stock components that would vest over time.
Musk became a household name through Tesla (TSLA.O), opens new tab and SpaceX before expanding his influence with the $44-billion acquisition of social media platform Twitter in 2022. The deal gave him a direct channel to hundreds of millions of ​users and made him a prominent voice on issues ranging from politics and immigration to government spending and free speech.