The wait is finally over. Elon Musk has made history by becoming the world’s first trillionaire, with a total net worth of around $1.2 trillion. On June 12, 2026, he officially crossed the $1 trillion mark and became the richest person ever recorded.
His wealth comes from different major companies, including Tesla, the electric vehicle maker. SpaceX, his rocket and satellite company. xAI, his artificial intelligence firm. X (formerly Twitter), the social media platform. Neuralink, a brain technology startup and the Boring Company, which focuses on tunneling and transport projects. Together, these businesses made Musk the richest person in modern financial history.
The biggest reason behind this record-breaking wealth jump was the SpaceX initial public offering (IPO). On June 11, 2026, SpaceX launched its IPO on the Nasdaq stock exchange at $135 per share. This valued the company at $1.77 trillion, making it the largest IPO ever seen in global markets. In comparison, Saudi Aramco’s 2019 IPO, which was previously the biggest, raised $29 billion. SpaceX raised $75 billion, which set a new global record.
Demand for SpaceX shares was extremely high. Orders for the IPO was four times higher than supply. Retail investors alone ordered more than $100 billion worth of shares. Musk owns about 42% of SpaceX, and at the IPO valuation, his stake was worth around $866.5 billion. When this is added to his other holdings, especially Tesla and remaining assets, his total wealth crossed $1.2 trillion, setting a new global record.
Before this, Musk had already reached historic levels of wealth. In April 2026, Forbes estimated his net worth at $839 billion, making him the first person ever to cross $800 billion. This rise was supported by the merger between SpaceX and xAI in February 2026, along with strong valuations across his companies. At that time, no other individual had ever come close to such a number.
However, Musk’s wealth journey was not stable throughout this period. Tesla played a major role in the ups and downs. Tesla’s stock had dropped about 45% from its December 2024 peak, and profits in early 2026 fell by 71%. Weak demand in China and Europe, along with strong competition from Chinese carmakers like BYD, created pressure on Tesla.
Political involvement also affected Tesla’s performance. Reports show that Musk’s involvement with the DOGE initiative during the Trump administration led to a loss of over one million possible vehicle sales in the United States. Protests near Tesla showrooms and concerns from investors damaged the reputation of the company.
By May 2026, conditions began to improve. Tesla’s stock started recovering, and excitement around the upcoming SpaceX IPO helped to boost investor confidence. SpaceX had already shown strong growth, earning $18.7 billion in 2025, which was a 33% increase from the previous year. This strong growth made people more interested in the IPO and improved market confidence in Musk’s companies.
With the successful IPO and rising valuations, Musk reached a financial level never seen before. His wealth gap with the world’s second-richest person, Larry Page, whose net worth is around $298 billion, is now about 3 times larger than Larry Page’s total wealth. This moment has not only made Elon Musk the richest person in history but has also changed the limits of personal wealth in the modern world.
