Officially… Elon Musk becomes the world’s first trillionaire

American businessman Elon Musk has become the first person in the world whose net worth exceeds one trillion dollars.

According to what was reported by CNBC, Musk became the “first trillionaire” in the world, benefiting from what SpaceX achieved during its initial public offering.

Musk’s company, SpaceX, confirmed the pricing of its initial public offering at $135 per share, raising about $75 billion and paving the way for the company’s appearance on the stock market.

SpaceX said it sold about 555.6 million shares at the offering price, giving the company a market value of about $1.77 trillion.

Matt Durott, deputy editor-in-chief of Forbes Wealth, said: “The second richest person’s wealth is close to $300 billion, that is, less than a third of what Musk’s wealth might reach,” noting that only one person, Larry Ellison, founder of Oracle, had a fortune that exceeded $400 billion in the past.

The bulk of Musk’s wealth is currently concentrated in SpaceX, where he owns a stake estimated at about $866 billion. In addition to his investments in Tesla and the rest of his assets, his wealth is expected to exceed $1.1 trillion when the stock begins trading on Friday, according to Reuters calculations based on the company’s disclosures.

Musk became a household name thanks to Tesla and SpaceX, before expanding his influence by acquiring Twitter in a deal worth $44 billion in 2022, which gave him a direct channel of communication with hundreds of millions of users, and made him a prominent voice on issues extending from politics and immigration to government spending and freedom of expression.