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Home»National News»Elon Musk becomes world’s first trillionaire after SpaceX’s record $75 billion IPO
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Elon Musk becomes world’s first trillionaire after SpaceX’s record $75 billion IPO

editorialBy editorialJune 12, 2026No Comments4 Mins Read
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Elon Musk becomes world’s first trillionaire after SpaceX’s record  billion IPO
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2 min readUpdated: Jun 12, 2026 02:24 PM IST

SpaceX founder Elon Musk has become the first person in the world to get the “trillionaire” tag. Investor confidence in Musk’s businesses was on full display on Thursday when SpaceX, which deals in reusable rockets, satellites and artificial intelligence, secured a record USD 75 billion through its initial public offering, reported news agency Reuters.

Alongside electric-vehicle manufacturer Tesla, SpaceX sits at the heart of Musk’s business empire.

Before the share offering, Forbes estimated Musk’s net worth at around USD 780 billion, placing him comfortably ahead of the second-richest individual, Alphabet co-founder Larry Page.

Matt Durot, deputy editor at Forbes Wealth was quoted as saying by Reuters: “The second richest person has been hovering around $300 billion, so about less than one-third of what Musk can potentially be worth tomorrow.” “And only one other person, Oracle founder Larry Ellison, has ever been worth USD 400 billion.”

ALSO READ | Iran names Elon Musk’s SpaceX, Starlink as military targets in West Asia: Report

Elon Musk’s major holdings

A major part of Musk’s wealth is now tied to SpaceX, where his stake is valued at roughly USD 866 billion. Combined with his holdings in Tesla and other ventures, Forbes estimates his net worth at USD 1.1 trillion once SpaceX shares began trading on Friday, according to Reuters calculations based on company filings.

Musk first rose to global prominence through Tesla and SpaceX before extending his influence further with the USD 44 billion purchase of Twitter (now X) in 2022, which gave him access to a massive online community and the chance to regulate the platform. In addition to Tesla and SpaceX, Musk has helped launch several other companies, including tunnel-construction venture The Boring Company and brain-implant developer Neuralink.

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His growing involvement in politics has also generated controversy. Among the most debated episodes was his participation in US President Donald Trump’s Department of Government Efficiency last year. The political backlash coincided with low Tesla sales in several overseas markets during 2025, as the company faced protests and consumer boycotts.

ALSO READ | Belfast riots: Why Elon Musk’s X won’t face immediate action over violent posts

The Express Global Desk at indianexpress.com which delivers authoritative, verified, and context-driven coverage of key international developments shaping global politics, policy, and migration trends. The desk focuses on stories with direct relevance for Indian and global audiences, combining breaking news with in-depth explainers and analysis.

A major focus area of the desk is US immigration and visa policy, including developments related to student visas, work permits, permanent residency pathways, executive actions, and court rulings. The Global Desk also closely tracks Canada’s immigration, visa, and study policies, covering changes to study permits, post-study work options, permanent residence programmes, and regulatory updates affecting migrants and international students.

All reporting from the Global Desk adheres to The Indian Express’ editorial standards, relying on official data, government notifications, court documents, and on-record sources. The desk prioritises clarity, accuracy, and accountability, ensuring readers can navigate complex global systems with confidence.

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The Express Global Desk is led by a team of experienced journalists and editors with deep expertise in international affairs and migration policy:

Aniruddha Dhar – Senior Assistant Editor with extensive experience in global affairs, international politics, and editorial leadership.

Nischai Vats – Deputy Copy Editor specialising in US politics, US visa and immigration policy, and policy-driven international coverage.

Mashkoora Khan – Sub-editor focusing on global developments, with a strong emphasis on Canada visa, immigration, and study-related policy coverage. … Read More

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