Elon Musk’s net worth is tied mainly to these two companies - SpaceX and Tesla. (AI image)
Who wants to be a millionaire? Several years ago an American show highlighted people’s aspiration of reaching the 7-digit figure. Almost three decades later, the world has got its first trillionaire – Elon Musk . A figure that has not seven, or eight - but thirteen digits! To put it simply, instead of one million, the world’s richest man has a net worth of a million millions! Elon Musk has reached this status riding on the listing of SpaceX , which started trading on Nasdaq with a valuation of around $1.96 trillion.
The stock ended the day at $161, taking the valuation of SpaceX past $2 trillion, and Musk's net worth to around $1.1 trillion. Elon Musk's SpaceXnow listed on the Nasdaq exchange at $150, and its ticker is SPCX. In fact, Musk's net worth can be arrived at by combining the wealth of the world's next four richest individuals - Alphabet co-founders Larry Page and Sergey Brin, Amazon founder and executive chairman Jeff Bezos, and Oracle founder Larry Ellison. According to Oxfam, crossing the $1 trillion threshold means Musk added more than $550 billion to his wealth in just one year, a pace that translates to well over $1 million every minute on average.
SpaceX IPO bags Musk the trillionaire status
SpaceX is the aerospace, satellite communications and artificial intelligence company that, alongside Tesla, forms the backbone of Elon Musk's business empire. On Thursday it completed a record-breaking $75 billion initial public offering (IPO).
SpaceX, the rocket company of which Starlink is a part, has plans that include building a self-sustaining settlement on Mars. It also hopes to deploy big orbital data centres and compete with artificial intelligence leaders such as Anthropic and OpenAI in the race to commercialise AI technologies.
SpaceX businesses include aerospace, satellite communication, commercial rocket launch services and space technology.
These sectors are beyond the traditional tech space like manufacturing, pharmaceuticals, engineering, and hence the IPO has seen elevated interest amongst retail and institutional investors. Ahead of the listing, Elon Musk shared how he was himself doubtful about the success of the company when it was founded in 2002. “It is certainly hard to believe that a little company that started in a warehouse in El Segundo is now the largest IPO ever. I gave SpaceX less than a 10% chance of succeeding at all, to be clear. In fact, I told people, look, we're probably gonna fail, but you know, we should give it a try,” he said. Elon Musk is known for pushing tech boundaries, thinking the unthinkable, and in some parts even missing on his timelines. Ahead of the listing, Forbes had estimated his net worth to be $982.6 billion. "SpaceX wants to be able to take you to the moon, take you to Mars, and ultimately beyond," Musk said at the launch event in Starbase, Texas.
"I'm confident at this point that with the incredible team that we have here at SpaceX, that we will do that for you," Musk added.
The road to being a trillionaire
Elon Musk started his entrepreneurial journey with the sale of Zip2 and eventually PayPal - two things that generated around $200 million for him! That capital was divided by spending into SpaceX and Tesla. Beating odds, he built a rocket company that has ventured into reusing rockets and with Tesla electric vehicles have started becoming mainstream. Elon Musk’s net worth is tied mainly to these two companies - SpaceX and Tesla. Company stock and performance-linked rewards make up most of his net worth rather than actual cash gains. So on paper, Musk has become a trillionaire, not in cash terms. Recently Tesla approved a pay package of a trillion dollars based on him achieving several milestones for the carmaker.
Investors have also occasionally expressed concerns over his clashes with regulators, his involvement across multiple businesses and, more recently, his role within the Trump administration. Yet, Tesla's share-price performance has overshadowed many of those concerns. Since its market debut in 2010, Tesla has generated returns of roughly 20,000% for shareholders, creating more than $1.2 trillion in investor wealth. Tesla has emerged as a transformative force in the automotive sector. And many investors believe that Musk can replicate Tesla’s success in other fields, particularly space technology and artificial intelligence. According to Forbes, that performance helped lift Musk's fortune to about $795 billion even before the SpaceX IPO.
Can Musk sustain it?
It’s important to note that a big portion of Musk’s net worth is tied to SpaceX. His holding in the company is worth around $866 billion. According to Reuters calculations, Musk’s net worth adds up to over a trillion dollars after the listing of Space X - adding the value of his shares in Tesla and some other ventures.
This estimate also factors in stock-based compensation that will v…
Read the full article at Times of India →📄Source document: Forbes→16 reports
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Bias read (Center): The article presents a factual summary of events without overtly favoring any political stance. It quotes statements from business leaders and provides financial details without editorializing or biased language.
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Official sources cited
- organisation Goldman Sachs CEO David Solomon
- organisation SpaceX
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Official sources cited
- organisation Reuters calculation
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