TDS Desk

Elon Musk, the tech entrepreneur behind Tesla and SpaceX, has become the world’s first trillionaire, reports Reuters.

He achieved this fate after SpaceX’s record-breaking initial public offering, further cementing his position as one of the most influential figures in global business and technology.

The company raised a staggering $75 billion in its IPO on Thursday, reflecting strong investor confidence in Musk’s expanding business empire that spans rockets, satellites, electric vehicles and artificial intelligence. Before the share sale, Forbes estimated his net worth at around $780 billion, already far ahead of any other global billionaire.

Most of Musk’s wealth is now tied to SpaceX, where his stake alone is valued at about $866 billion. Combined with Tesla and other ventures, his total net worth is projected to cross $1.1 trillion once trading begins, according to Reuters calculations.

Despite growing concerns over inequality and criticism of ultra-wealthy individuals, Musk has maintained a strong global following. While supporters praise his bold and unconventional leadership style, critics have raised questions over governance, political involvement and his growing influence across industries.

Musk’s rise has been closely tied to Tesla, which transformed the electric vehicle market, and SpaceX, which has reshaped the space industry. He also owns or co-founded several other companies, including Neuralink and The Boring Company, expanding his footprint in multiple high-tech sectors.

Born in Pretoria, South Africa, Musk moved to the United States for higher studies and later became one of the most prominent figures in Silicon Valley. He took over Tesla in 2008 and led its transformation into the world’s most valuable automaker, forcing traditional carmakers to accelerate their shift toward electric mobility.

His influence expanded further after acquiring social media platform Twitter in 2022, giving him a powerful global communication platform and increasing his presence in political and public debates.

However, Musk’s political involvement, business decisions and outspoken nature have also drawn criticism, raising concerns about the concentration of power in the hands of a single entrepreneur.

Still, investors continue to bet on his vision, often describing what analysts call the “Elon premium” — the belief that Musk’s leadership alone significantly boosts the value of his companies.

With SpaceX now entering public markets in a landmark IPO, Musk’s business empire has reached a historic milestone, placing him at the top of the global wealth chart.