Elon Musk is moving closer to becoming the world's first trillionaire after SpaceX's highly anticipated IPO dramatically increased the value of his stake in the company.
At the IPO price of $135 per share, Musk's SpaceX holdings are worth an estimated $688 billion, pushing his total net worth to roughly $971 billion, according to Bloomberg.
The surge is largely driven by SpaceX's rapid rise in valuation, which has grown significantly over the past year. Musk's holdings in Tesla, Neuralink, and The Boring Company also contribute to his fortune, but SpaceX remains his largest asset by far.
Based on current estimates, Musk would need only a modest increase in wealth to cross the trillion-dollar threshold. A small rise in SpaceX's share price after trading begins could be enough to make history.
Even before reaching that milestone, Musk remains comfortably ahead of every other billionaire on the planet, with a fortune hundreds of billions of dollars larger than the next richest individuals.