Elon Musk becomes the world’s first trillionaire as SpaceX shares surge

The rise in SpaceX’s share price today, following its listing on the U.S. stock market, has made Elon Musk the world’s first trillionaire.

Musk’s 38% stake in SpaceX is now valued at around $800 billion after the company’s shares jumped 20% in early trading, pushing its overall valuation above $2 trillion.

In addition, Musk owns just over 10% of Tesla, a stake worth approximately $165 billion. He also holds options to acquire nearly another 8% stake, valued at about $114 billion, according to Forbes.

Before SpaceX’s shares began trading, Forbes had estimated Musk’s net worth at around $980 billion, meaning only a modest increase in the share price was needed for him to surpass the $1 trillion milestone.

Musk also owns stakes in his brain-interface startup Neuralink and his tunneling venture The Boring Company, in addition to wealth accumulated from previous sales of Tesla shares.

Meanwhile, Oxfam has warned that Musk’s rise to a fortune exceeding $1 trillion marks “a dark day for democracy.