Elon Musk becomes first billionaire as SpaceX launches world's biggest IPO: See how he stacks up against other tech CEOs

Billionaire Elon Musk’s SpaceX has now become a billionaire as he embarks on what could be the largest initial public offering (IPO) in history.

This level of wealth, owned by just one person, was previously unfathomable. Before Friday, the trillion-dollar mark was reserved only for indicators like gross domestic product (GDP) or the staggering debt of a handful of major economies, and in just the last decade, the value of some of the biggest companies ever to trade on the stock market.

Musk’s new title of potential trillionaire comes amid a broader increase in wealth among the world’s richest individuals. Over the course of the year, the ranks of billionaires continued to expand, from tech titans to celebrities. At the same time, many people around the world are facing rising living costs and financial pressures. Critics say the prospect of the world’s first billionaire underscores the growing gap between the ultra-rich and the rest of society, highlighting widening economic inequality.

Quick answers to key questions

•5 QUESTIONS

Elon Musk has become the world’s first billionaire following the successful launch of SpaceX’s initial public offering (IPO), which valued the company at more than $2 trillion, significantly increasing his net worth.

SpaceX’s IPO was a success thanks to a 23% rise in its share price during its Nasdaq debut, attracting investors with its ambitions in rocket technology, satellite internet and artificial intelligence.

Musk’s wealth highlights growing economic inequality, as his status as a trillionaire contrasts sharply with the rising cost of living and financial pressures facing many people around the world.

According to recent reports, Musk’s net worth of $971 billion exceeds the combined wealth of top tech CEOs like Larry Page and Jeff Bezos, marking a significant lead in the tech industry.

The term “trillionaire” refers to an individual whose net worth exceeds one trillion dollars, a milestone that Musk achieved with his ownership stake in SpaceX, especially after its landmark IPO.

Read also | Elon Musk’s full speech as SpaceX makes blockbuster market debut

According to Forbes, Musk’s net worth actually reached $1.1 trillion as of midday Friday after SpaceX soared in its first moments on the market.

SpaceX’s IPO opens today

Shares of SpaceX surged 23 percent in their Nasdaq debut on Friday as investors flocked to what has become the world’s biggest IPO, driven by the company’s broad ambitions in rocketry, satellite internet and artificial intelligence. After opening at $150, the stock last traded around $166 per share, valuing SpaceX at more than $2 trillion and making it the sixth largest US company. Market watchers see the debut as a test of demand ahead of several big IPOs expected soon, including those from artificial intelligence firms Anthropic and OpenAI, Reuters reported.

As Musk becomes the first billionaire, here’s a look at how his wealth compares to that of other tech CEOs:

At the time of publication, Musk’s wealth was $971 billion, according to the Bloomberg Billionaires Index, far ahead of the top executives of several other tech companies combined. The combined wealth of Google co-founders Larry Page ($304 billion) and Sergey Brin ($283 billion), along with Amazon founder Jeff Bezos ($262 billion), remains below Musk’s net worth, underscoring the extent of his wealth.

Here is the list of 10 richest people in the world

Elon Musk: $971 billion

Sergey Brin: $283 billion

Larry Ellison: $237 billion

Michael Dell: $211 billion

Mark Zuckerberg: $202 billion

Jensen Huang: $170 trillion

Bernard Arnault: $166 billion

Read also | Elon Musk reclaimed the title of the world’s richest man hours after Larry Ellison took over

Here are a few ways to think about where $1 trillion can go:

To the moon and back: The magnitude of $1 trillion is hard to imagine. If one trillion US dollar bills were inserted end to end, they would stretch nearly 156 million kilometers. That’s enough to go to the moon and back more than 200 times. The distance would also be greater than the roughly 93 million miles between Earth and the Sun.

2. $122 for every person on Earth: According to the latest data from the US Census Bureau, there are almost 8.2 billion people living on Earth today. If $1 trillion were distributed among the entire population, each person would receive almost $122.

3. Twice the GDP of South Africa: Musk’s potential wealth would be more than twice the annual GDP of South Africa, the country where he was born. According to data from the International Monetary Fund (IMF), in 2026, the production of goods and services in the Republic of South Africa reaches almost 480 billion dollars.

According to the report, roughly 21 countries in the world have a GDP of more than a trillion dollars, with the US and China leading the pack with more than $32.38 trillion and $20.85 trillion, respectively, but that’s well ahead of most other economies.

4. 2.5 million US households: Musk’s potential new title could buy at least 2.5 million US households. Homes sold in Washington have a median sales price of about $403,200, according to the latest data from the Federal Reserve Bank of St. Louis.

5. 243 billion gallons of gas: At current U.S. gas prices, which averaged nearly $4.11 a gallon for AAA on Friday, $1 trillion could buy more than 243 billion gallons of regular fuel.

Key things

Elon Musk’s rise to billionaire status points to growing economic disparities.
SpaceX’s historic IPO marks a shift in wealth dynamics within the tech sector.
The concentration of wealth among billionaires raises questions of fairness and social responsibility.