From Pretoria To World's First Trillionaire: How SpaceX IPO Rewrote Elon Musk's Massive Fortune

Tesla CEO Elon Musk has become the world's first trillionaire, according to estimates after SpaceX's blockbuster stock market debut. A big initial public offering, or IPO, has sharply lifted the value of his business empire, pushing his personal wealth over a level never seen before.

The SpaceX share sale raised $75 billion on Thursday, reports said. The deal greatly increased the valuation of the rocket and satellite firm, which is privately held. SpaceX now makes up most of Musk's fortune. Forbes and Reuters, using company filings, expect his net worth to cross $1.1 trillion as trading begins.

This projected wealth places the Tesla and SpaceX chief far ahead of every other billionaire. Before the IPO, Forbes had put his fortune at about $780 billion. The next richest person was Alphabet co-founder Larry Page, who was estimated at around $300 billion.

Musk's stake in SpaceX drives his wealth

Much of Musk's expected fortune comes from his stake in SpaceX. That holding is estimated at roughly $866 billion after the IPO. When combined with his shares in electric vehicle maker Tesla and his other ventures, analysts say the listing has locked in his status as the richest person in history.

The scale of the number is striking when compared with countries. Only about 20 nations now produce more than $1.1 trillion of economic output each year. Musk's estimated wealth could top the yearly economies of Taiwan, Ireland, Sweden, Singapore and even his home country, South Africa.

Experts note that a country's economy and a person's wealth are not the same thing. One measures what is produced in a year. The other measures the value of assets someone owns. Still, the comparison highlights how rare and unusual this figure is.

From Pretoria to leading global tech firms

Musk was born in Pretoria, South Africa, in 1971. He later studied at the University of Pennsylvania. He then started a career that has touched several industries. He took over as Tesla CEO in 2008, backing the idea that electric cars could go mainstream while still offering strong performance and software-led features.

Tesla's fast rise and its own trillion-dollar valuation pushed the car industry towards electric vehicles. Musk also grew his interests through firms like Neuralink, which works on brain-computer links, and The Boring Company, which focuses on tunnelling projects.

Many investors now see SpaceX as the key asset in his group. They are making long-term bets on its plans in space travel, satellite internet and artificial intelligence. This is happening even as questions remain about when some of its technologies will start to turn clear profits.