Elon Musk makes history as first trillionaire
Elon Musk has become the first person in history to amass a fortune worth more than $1 trillion, following the historic stock market debut of his space technology company, SpaceX. The milestone was reached after SpaceX completed what has been described as the largest initial public offering (IPO) ever, with the company's valuation soaring above $2 trillion on its first day of trading.
The surge in the company's share price pushed Musk's net worth beyond the trillion-dollar mark, cementing his position as the richest person in modern history. According to reports, SpaceX shares opened strongly and continued to rise throughout the trading session, giving the company a market value of more than $2.1 trillion by the close of business. Musk, who owns a significant stake in the company, saw his fortune climb to an estimated $1.1 trillion.
From Zip2 to trillionaire
The achievement marks a remarkable journey for the South African-born entrepreneur, whose rise began in the late 1990s with software startup Zip2 before he co-founded X.com, which later became PayPal. After selling PayPal, Musk invested much of his fortune into ambitious ventures that many considered too risky at the time. Among them were Tesla, the electric vehicle company, and SpaceX, which was founded in 2002 with the goal of reducing the cost of space travel and eventually making human life multiplanetary.
For years, SpaceX faced financial difficulties and multiple rocket failures. The company survived several near-collapse moments before securing key contracts and becoming one of the world's leading aerospace firms. Today, it operates the Starlink satellite internet service and runs one of the most active launch programmes globally.
Other ventures contribute to wealth
Beyond SpaceX, Musk's wealth is also tied to his holdings in Tesla, artificial intelligence company xAI, Neuralink and The Boring Company. Musk's achievement represents a financial milestone never before reached by any individual and further strengthens his reputation as one of the most influential business figures of the 21st century.
