Key insights
- SpaceX's IPO has significantly boosted Elon Musk's net worth, potentially making him the world's first trillionaire. This valuation, combined with his stake in Tesla and other ventures, highlights his substantial influence in the tech and space industries. While not a direct indicator of broad market movement, Musk's wealth concentration and the performance of his companies can influence investor sentiment and specific tech sector valuations.
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Yesterday's billionaire is today's trillionaire. You can thank SpaceX for that.
SpaceX's (SPCX) IPO, which priced at $135 per share, boosted the value of founder and chief Elon Musk's assets, which according to company filings include 4.76 billion shares of the company.1 By Forbes' estimate, his net worth rose by approximately $1.88 billion overnight to $982 billion.2 With the stock recently trading well above that price, Musk stands to be the world's first trillionaire—on paper, at least. Forbes' real-time tracker has him at $1.1 trillion.3
Musk also owns about 11% of Tesla (TSLA), which was also rising today and sports a market cap above $1.2 trillion. And he has stakes in two other businesses he founded: brain interface company Neuralink, and The Boring Company, a tunneling startup.
Musk's outsize ambitions to deliver humanoid robotics, build data centers in space, and colonize Mars make his net worth important because it puts a number on his power and influence.
SpaceX would account for the largest chunk of Musk's net worth, or over 70% as of June 11, according to Bloomberg's Billionaires Index.4 Tesla represents a more modest 17%, the firm's data show.
The estimated net worth of the second- and third-wealthiest people comes in far below Musk's: Google (GOOGL) co-founders Larry Page and Sergey Brin are valued at around $295 billion and $272 billion, respectively, according to Forbes, with both seeing small gains in their assets today. You'd need to combine the assets of the second through the fifth wealthiest to get to just over $1 trillion: In other words, you'd need two Google founders, a Jeff Bezos, and a Larry Ellison to get to Musk-level riches.
Amazon's (AMZN) Bezos and Oracle's (ORCL) Ellison, meanwhile, are among Forbes' biggest losers on Friday, seeing slight decreases to their billions today. If you're wondering, yes: That's the same Ellison who, lifted by the value of his stake in Oracle, last year briefly could say he was richer than Musk.
If Musk unlocks milestone-linked rewards in his trillion-dollar pay package at Tesla, the gulf between his dollars and everyone else's is likely to grow even wider.
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