Elon Musk becomes the first person in the world with a wealth of over 1 trillion dollars. This happened after the successful initial public offering (IPO) of his company SpaceX, which brought the company a record 75 billion dollars.
According to Reuters, before the IPO, Musk’s net worth was estimated at 780 billion dollars, and after the company went public, his stake in SpaceX increased to 866 billion dollars. Considering his assets in Tesla and other companies, the total value of his assets exceeded 1.1 trillion dollars.
The second wealthiest person in the world currently owns approximately 300 billion dollars, which is less than a third of Musk’s wealth. Previously, only one entrepreneur, Oracle founder Larry Ellison, reached the benchmark of 400 billion dollars.
SpaceX has been preparing for its initial public offering since 2025. Preliminary forecasts suggest that the company’s annual revenues will grow from 15 billion dollars in 2025 to 22–24 billion dollars in 2026. Amidst the preparations for the IPO at the end of January 2026, Elon Musk considered the possibility of merging SpaceX with car manufacturer Tesla or AI startup xAI. Investors believe that such a combination could bring a synergistic effect.
In May, xAI ceased to exist as a separate entity, becoming part of SpaceX as the new direction called SpaceXAI. This decision was made amid the IPO with the goal of unifying all the company’s artificial intelligence projects.
