{"id":700443,"date":"2026-06-12T21:15:07","date_gmt":"2026-06-12T21:15:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/700443\/"},"modified":"2026-06-12T21:15:07","modified_gmt":"2026-06-12T21:15:07","slug":"elon-musk-becomes-the-worlds-first-trillionaire-with-spacexs-ipo","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/700443\/","title":{"rendered":"Elon Musk becomes the world’s first trillionaire with SpaceX’s IPO"},"content":{"rendered":"

Elon Musk has become the first person to cross the trillionaire threshold, at least on paper, after SpaceX priced<\/a> its\u00a0blockbuster initial public offering<\/a>\u00a0at $135 a share and its stock soared<\/a> in its stock market debut.<\/p>\n

Before the IPO, Musk was worth an estimated $813 billion, a fortune more than twice as large as the planet’s second-richest person, Google co-founder Larry Page, who is worth an estimated $288 billion, according<\/a> to Forbes.\u00a0<\/p>\n

“SpaceX wants to be able to take you to the Moon, take you to Mars and ultimately beyond,” Musk said at a launch event with staffers on Friday at the company’s headquarters in Starbase, Texas.<\/p>\n

SpaceX formally setting its stock price at $135 boosted Musk’s fortune to just over $1 trillion. The shares, which trade under the ticker symbol SPCX, jumped after they began trading shortly before noon ET. At its closing price of $160.95 on Friday, Musk’s net worth reached roughly $1.14 trillion, although future declines could push him back below the trillionaire mark.<\/p>\n

While billionaire wealth alone may be hard enough to comprehend, a trillionaire represents a level of wealth that rivals the economic output of the world’s biggest nations. Only 19 countries have GDPs that surpass<\/a> $1 trillion, ranging from the U.S. to the Netherlands, according to World Bank data.<\/p>\n

Musk’s surging fortune represents a “new Gilded Age” of wealth inequality, Oxfam America senior director of economic justice Nabil Ahmed said in a statement. \u00a0<\/p>\n

“Elon Musk’s rise to trillionaire status marks a new pinnacle of oligarchy,” Ahmed said.\u00a0<\/p>\n

To be sure, plenty of other SpaceX employees and investors are likely to mint new fortunes with the IPO. About 4,400 SpaceX workers could become millionaires when the stock begins trading, according<\/a> to the New York Times. But Musk is likely to be the biggest beneficiary, given his large stake in the business.<\/p>\n

Trillionaire math<\/p>\n

Musk owns 4.8 billion shares of SpaceX, or about 42% of the company, as well as 350 million stock options exercisable at $8.39 per share, according to the company’s IPO filing<\/a>. At $135 a share, Musk’s stake is worth $648 billion. His options add another $44.3 billion to his net worth.\u00a0<\/p>\n

Because Forbes valued Musk’s pre-IPO stake in SpaceX at $500 billion, the IPO sale boosts the value of his SpaceX shares by an additional $192.3 billion, bringing his total net worth to $1.005 trillion.\u00a0<\/p>\n

SpaceX shares touched as high as $168.75 in Friday afternoon trading before closing at $160.95. At the closing price, Musk’s stake in SpaceX is worth an additional $326 billion, placing his total wealth at roughly $1.14 billion.<\/p>\n

That wealth makes Musk richer than the bottom 46% of the world’s population, or a combined 3.8 billion people, Oxfam said.<\/p>\n

\n Edited by<\/p>\n

Alain Sherter<\/a>\n <\/p>\n

\n

AFP <\/p>\n

contributed to this report.\n <\/p>\n

\n More from CBS News\n <\/p>\n

\n Go deeper with The Free Press\n <\/p>\n

In:<\/p>\n","protected":false},"excerpt":{"rendered":"Elon Musk has become the first person to cross the trillionaire threshold, at least on paper, after SpaceX…\n","protected":false},"author":2,"featured_media":700444,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[28,11,1513],"class_list":["post-700443","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-elon-musk","tag-spacex"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/700443","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=700443"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/700443\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/700444"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=700443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=700443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=700443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}