economy

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

Updated on: June 12, 2026 / 4:17 PM EDT / CBS News

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

TL;DR

  • Elon Musk is the first person to reach trillionaire status, based on SpaceX's IPO valuation.
  • SpaceX's stock debut at $135 per share boosted Musk's net worth to over $1 trillion.
  • Musk's wealth at its peak exceeded $1.14 trillion, making him richer than 46% of the world's population.
  • The wealth of a trillionaire is comparable to the GDP of 19 of the world's largest nations.
  • The IPO is expected to create new millionaires among SpaceX employees, but Musk remains the primary beneficiary due to his significant stake.
  • Musk owns approximately 42% of SpaceX, along with stock options, contributing to his vast fortune.
  • Oxfam America has described Musk's rise as a sign of a 'new Gilded Age' and a 'new pinnacle of oligarchy'.