Updated on: June 12, 2026 / 9:16 AM EDT / CBS News

Elon Musk has achieved the milestone of becoming the first trillionaire, at least on paper, after SpaceX set its highly anticipated initial public offering price at $135 per share.

Prior to the IPO, Musk's estimated wealth stood at $813 billion, more than double that of the second-richest individual, Google co-founder Larry Page, valued at $288 billion according to Forbes.

With SpaceX establishing the stock price at $135, Musk's net worth has surpassed $1 trillion. The shares, trading under "SPCX," are set to debut on Friday following the Nasdaq opening. Should the price exceed $135, his wealth could increase, but a drop might push him below the trillion mark.

Understanding such immense wealth is challenging, yet a trillionaire's fortune matches the GDP of major economies. Just 19 nations boast GDPs over $1 trillion, from the United States to the Netherlands, per World Bank figures.

Musk's wealth surge highlights a "new Gilded Age" of inequality, noted Oxfam America senior director Nabil Ahmed.

"Elon Musk attaining trillionaire status signifies a peak in oligarchic power," Ahmed remarked.

Other SpaceX staff and investors stand to gain significantly too. Roughly 4,400 employees may become millionaires post-IPO, as reported by the New York Times. However, Musk benefits most due to his substantial ownership.

Calculating Trillionaire Wealth

Musk holds 4.8 billion SpaceX shares, representing about 42% ownership, plus 350 million options at $8.39 each, based on IPO documents. At $135 per share, his shares total $648 billion, with options adding $44.3 billion.

Forbes had valued his pre-IPO stake at $500 billion, so the IPO adds $192.3 billion, reaching $1.005 trillion overall.

This positions Musk wealthier than the bottom 46% of global population, equating to 3.8 billion people, according to Oxfam.

In:

Elon Musk
SpaceX