Finance

New York : Elon Musk is on track to become the world's first trillionaire after SpaceX completed a historic public offering that raised $75 billion, making it the largest initial public offering (IPO) ever recorded. The aerospace and satellite technology company sold 555.6 million shares, resulting in a market valuation of approximately $1.77 trillion. The milestone significantly boosted Musk's wealth, further cementing his position as the richest person in the world. According to estimates, Musk's 42 per cent stake in SpaceX is now valued at between $743 billion and $866 billion. Combined with his holdings in other ventures, analysts believe his total net worth has surpassed the $1 trillion mark, placing him in a category never before reached by an individual. The scale of such wealth is unprecedented. According to anti-poverty organization Oxfam, "even spending $1 million every day would require more than 2,700 years to exhaust a fortune of $1 trillion." Elon Musk fortune now stands far ahead of other billionaires. For comparison, the wealth of Google co-founder Larry Page is estimated at around $304 billion, less than one-third of Musk's projected net worth. Economic analysts note that Elon Musk's wealth rivals some of the most famous industrialists in American history. Reports suggest his fortune could represent nearly three per cent of U.S. gross domestic product (GDP), a figure that exceeds the relative wealth once held by oil magnate John D. Rockefeller, whose fortune was estimated at around 1.5 per cent of U.S. GDP during its peak. Experts also point out that Musk's influence extends beyond business. Through companies involved in space exploration, artificial intelligence, electric vehicles, telecommunications, and social media, he has become one of the most influential figures in the global economy. His growing political involvement has also attracted attention. Musk publicly supported Donald Trump's 2024 presidential campaign and later participated in government reform initiatives, developments that have generated both praise and criticism across the political spectrum. Despite comparisons with historical industrial giants such as Rockefeller and Andrew Carnegie, analysts highlight differences in how modern billionaires use their wealth. While many business titans of the past became known for large-scale philanthropy, Musk's charitable activities have largely focused on projects connected to science, technology, education, and innovation. The successful SpaceX IPO marks a major milestone not only for the company but also for the global financial markets. Investors view the firm's expanding role in satellite communications, commercial spaceflight, defense technology, and artificial intelligence as key drivers behind its soaring valuation. As SpaceX begins trading as a public company, market observers say the event could reshape discussions around wealth, corporate influence, and the future of private space exploration. With SpaceX now valued at nearly $1.8 trillion and Musk's fortune crossing previously unimaginable levels, the entrepreneur appears poised to enter history as the first person to achieve trillionaire status.