Elon reported wealth surged after SpaceX debuted on public markets, making the man elon musk trillionaire by Bloomberg's calculations, with a net worth of about $1.1 trillion, according to the Bloomberg Billionaires Index.
Shares were reported trading at $150 per share upon market entry, above an initial offering of $135, and later rose to $160.95 in their first day of trading, valuing SpaceX at roughly $2.2 trillion as reported by media outlets.
SpaceX's combined business raised $75 billion in what reports called the largest ever initial public offering, and that combined business now accounts for more than 70% of his reported net worth.
Tesla first propelled his rise after the company went public, and SpaceX's launch market dominance and Starlink satellite broadband helped draw investor interest, according to coverage summarizing his path to this milestone.
Musk wrote on the social media platform he owns that "Whoever said 'money can't buy happiness' really knew what they were talking about," and his holdings remain largely on paper with few assets outside his company stakes, the Bloomberg index noted.
Reactions And Broader Implications
New York City Mayor Zohran Mamdani reacted on X, writing "Reason #1,000,000,000,000 why we should tax the rich" after the SpaceX stock pop that helped create the reported trillionaire.
Mamdani, who campaigned on taxing the wealthy, has implemented measures such as a pied-à-terre tax on multimillion-dollar second homes and launched a Commission on Government Efficiency, presented as a local analogue to the Musk-led DOGE office in the White House.
The mayor and Musk have traded public barbs, and Musk backed Mamdani's challenger, Andrew Cuomo, in the New York mayoral race, according to reporting on their political exchange.
Coverage noted Musk's past moves, including his 2022 purchase of the social media platform later renamed X, the formation of xAI, and roughly $291 million spent on the 2024 federal election, an amount described as a minute share of his reported net worth.
Analysts cited in reports also warned his fortune is concentrated in company stock and that selling large stakes could harm share prices, while compensation deals at his firms could award him further equity that, if all targets are met, would add substantial theoretical value.
