Elon Musk becomes the world's first trillionaire after SpaceX IPO

According to Bloomberg News, Elon Musk has officially become the world's first trillionaire following the successful stock market debut of SpaceX on Friday. Ahead of the IPO, the rocket company's shares were priced at $135 each, bringing Musk's stake in the company to approximately $860 billion. Driven by his Tesla holdings and the sharp rise in SpaceX shares after trading began, the tech mogul's paper wealth surpassed $1 trillion. This is reported by Techcrunch.com .

Musk's achievement of trillionaire status coincides with a period of peak political and social influence. He spent around $300 million on Donald Trump's 2024 election campaign and subsequently began leading the "Department of Government Efficiency" within the new administration. However, his decisions regarding the potential dissolution of entire departments like USAID are facing sharp criticism from the public and health experts.

Musk's wealth is expected to grow further in the future. Last year, Tesla shareholders approved a compensation package that could be worth up to $1 trillion, contingent on achieving certain operational milestones. Although his 1 billion SpaceX shares cannot be sold until a human colony is established on Mars, Musk has the ability to borrow billions in cash by using these shares as collateral.

Even though SpaceX has now become a public company, Elon Musk retains absolute control. He holds over 80% of the voting rights, personally selects the board of directors, and has structured the company to limit any legal challenges. This grants him unchecked power as he aims to dominate the largest market in the aerospace industry.