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Posted on 06/12/2026 10:09:35 AM PDT by Red Badger
Elon Musk has become the first person to cross the trillionaire threshold, at least on paper, after SpaceX priced its blockbuster initial public offering at $135 a share and its stock soared in its stock market debut.
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 to Forbes.
SpaceX formally setting its stock price at $135 boosted Musk's fortune to just over $1 trillion. The shares, which will trade under the ticker symbol SPCX, jumped after they began trading shortly before noon ET. At its intraday high of $168.75 on Friday, Musk's net worth reached roughly $1.18 trillion, although future declines could push him back below the trillionaire mark.
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 $1 trillion, ranging from the U.S. to the Netherlands, according to World Bank data.
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.
"Elon Musk's rise to trillionaire status marks a new pinnacle of oligarchy," Ahmed said.
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 to the New York Times. But Musk is likely to be the biggest beneficiary, given his large stake in the business.
Trillionaire math 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. At $135 a share, Musk's stake is worth $648 billion. His options add another $44.3 billion to his net worth.
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.
SpaceX shares touched as high as $168.75 in Friday afternoon trading. At that price, Musk's stake in SpaceX is worth an additional $366.1 billion, placing his total wealth at roughly $1.18 billion.
That wealth makes Musk richer than the bottom 46% of the world's population, or a combined 3.8 billion people, Oxfam said.
Edited by Alain Sherter
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And, richly deserved, IMO.
Especially in answer to idiots everywhere who insist that no amount of work, ingenuity, vision, or innovation is worth a billion dollars, never mind a trillion dollars.
Oh my. We must vote him off the island.
Uncle Elon!! Remember me? I’m your long lost cousin from Arkansas. Call me at BR549.
my neighbor hates Elon, said he is only rich because he is white and Trump gave him billions of dollars to get him out of South Africa.
Says "Oxfam", one of the most filthy, corrupt, and malignant woke organizations of the face of the Earth.
If they could be given a face, the UN and its corrupt, child sex exploiting "Blue Helmets" would have the face of Oxfam.
“...senior director of economic justice Nabil Ahmed...”
You cannot reason with people like that. Their brains are made of concrete.............
Good.
Congratulations Elon!
Good for him.
The options will make him even richer.
The Elon hate is going to be insane.
Oh my Algore wanted to be the first with his carbon credit scam ,LOL
One of these days, I’d like to have someone ask Elon what sort of financial tools he keeps in his money portfolio.
Chances are, he’ll refuse, knowing that what he says of leaves unsaid, is likely to influence the markets.
He may have software systems doing most of the managing for him. There is so much capital to be watched.
So many china plates all now spinning.
Similar to how Warren Buffet has to watch what he publicly says about anything.
There have been and will be a million articles quoting Dems about how this should not be allowed. Pocahontas and Alexandria Ocasio-Moron already have said Musk is too rich and Pocahontas tried to stop this IPO. Its worse than the politics of redistribution of wealth; its the politics of keeping everyone poor. Margaret Thatcher summed it up best in her farewell speech in 1990:
“All levels of income are better off than they were in 1979. But what the honorable member is saying is that he would rather the poor were poorer provided the rich were less rich. That way you will never create the wealth for better social services as we have. And what a policy. Yes. He would rather have the poor poorer provided the rich were less rich. That is the Liberal policy. . . . . I think the honorable gentlemen knows that I have the same contempt for his Socialist policies as the people of East Europe who have experienced it. Once they start to talk about the gap, they’d rather the gap be smaller. So long as the gap is smaller, they’d rather have the poor poorer.”
According to Gemini:
By Economic Share (Percentage of GDP)Economists prefer this method because the U.S. economy was much smaller in the early 20th century. This measures a person’s total wealth relative to the size of the total economy:
Elon Musk Today: Musk’s $1.1 trillion fortune makes up over 3% of the total U.S. GDP, which currently sits at over $30 trillion.
John D. Rockefeller: At his absolute peak in 1913, Rockefeller’s $900 million fortune controlled nearly 3% of the U.S. GDP ($39.1 billion at the time).
If you scale that 3% share up to the size of today’s economy, Rockefeller’s peak wealth is equivalent to roughly $900 billion.
America needs more Trillionaires.
He made most of his money off Dimocrats.
The Commies must now be plotting a new Trillionaire Tax to cut him down to $400 billion or so.
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