Elon Musk has moved closer than ever to becoming the world’s first trillionaire after a dramatic surge in his wealth linked to the record-breaking public offering of SpaceX.
According to recent estimates, Musk’s net worth soared by an unprecedented $274 billion in a single day, pushing his total fortune to approximately $971 billion. The sharp increase came ahead of SpaceX’s historic stock market debut, which is expected to value the aerospace and satellite technology company at around $1.75 trillion.
With his wealth now nearing the trillion-dollar mark, Musk requires less than $30 billion in additional gains to become the first person in history to surpass a net worth of $1 trillion.
The entrepreneur currently owns a significant stake in SpaceX, one of the world’s leading private space companies. The firm is known for developing reusable rockets and operating Starlink, a global satellite internet network serving millions of users worldwide.
Reports indicate that Musk’s wealth has increased by more than $350 billion so far this year, driven largely by rising valuations of his business ventures. The latest jump has further widened the gap between Musk and other billionaires on global wealth rankings.
Meanwhile, a study by the anti-poverty organisation Oxfam highlighted the extraordinary pace of wealth growth among the world’s richest individuals. According to the research, Musk’s fortune increased by more than $550 billion during 2025 alone.
The study estimated that his wealth grew by over $1 million every minute throughout the year. Researchers also noted that Musk’s net worth exceeds the combined wealth held by a large portion of the world’s poorest population.
The rapid rise in Musk’s fortune has reignited debates over global wealth inequality and the concentration of economic power among a small number of individuals. At the same time, supporters argue that his wealth reflects the market value of innovative companies that have transformed industries ranging from electric vehicles to space exploration.
As SpaceX enters a new era as a publicly traded company, financial markets will closely watch whether Musk becomes the world’s first trillionaire.