This article first appeared on GuruFocus.
Elon Musk’s wealth has now entered a zone Wall Street has never had to measure before. SpaceX (NASDAQ:SPCX) shares opened at $150 in New York on Friday, 11% above their offering price, giving the rocket, satellite broadband and AI-linked company a valuation of roughly $2 trillion. According to the Bloomberg Billionaires Index, Musk’s fortune now stands at almost $1.05 trillion, more than three times that of Google co-founder Larry Page, making the SpaceX and Tesla chief the world’s first trillionaire.
The rise did not begin with SpaceX. Tesla (NASDAQ:TSLA) first turned Musk into one of the defining wealth stories of modern markets, with shares gaining about 35,000% since the company went public in 2010. Musk crossed the $100 billion mark in 2020 as Tesla surged, but SpaceX has now become the bigger engine. The combined SpaceX, xAI and X business accounts for more than 70% of his net worth after raising $75 billion in what the source described as the largest-ever initial public offering. Its valuation had already climbed from about $100 billion in a 2021 investment round to $1 trillion by February after Musk merged SpaceX with xAI and X.
For investors, the question is not just how large Musk’s fortune has become. It is how much of that fortune still depends on future execution. Bloomberg’s index says his wealth remains largely on paper, with few assets outside holdings in his own companies, while the figure excludes liabilities totaling $3.5 billion. Tesla and SpaceX also have equity award packages that could be worth roughly $1.8 trillion combined if both companies hit ambitious financial and operational targets. That means Musk’s trillionaire moment could be less of a finish line and more of a market test around robotaxis, Optimus, Starlink, orbital launch dominance and AI demand.
