On Tuesday, Forbes magazine valued E. Musk’s wealth at nearly $835 billion, compared to $342 billion stated in the annual list of the richest people published in March 2025. He far surpasses Google founder Larry Page, who ranks second with $298 billion.
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SpaceX’s market debut, scheduled for around June 12, will “almost guarantee that his net worth will exceed $1 trillion,” Forbes said in early April when the company first filed to list its shares on the Nasdaq stock exchange.
The value of the company, founded in 2002, is expected to range from $1.7 trillion to $2 trillion, compared to the $1.5 trillion forecasted in March.
On Tuesday, private stock trading platforms valued the company at about $1.5 trillion, with one share on Forge Global priced at about $129 (compared to $53 in mid-December) and $118 on Nasdaq Private Market.
According to documents filed with the U.S. Securities and Exchange Commission, 54-year-old E. Musk currently owns 12% of SpaceX common stock and about 94% of Class B shares (each granting 10 votes).
Based on AFP calculations, after the company becomes publicly traded, E. Musk will hold about 42% of SpaceX’s capital and 79% of all voting rights. According to the latest valuation estimates, this would correspond to $735-840 billion.
“Current trends show an incredible and ongoing centralization and concentration of wealth” in the hands of about 3,000 billionaires, AFP quoted University of California Santa Barbara sociology professor William Robinson. “At the top of those billionaires, concentration is rapidly increasing.”
“Technology oligarchy”
W. Robinson noted that at the same time, five billion people on Earth live below the poverty line, creating “extreme inequality” that could lead to civil wars and other crises.
He states that the “new billionaire class” — more precisely, the “technology oligarchy” — has structural power over states, economies, and society reminiscent of the rise of Nazism and fascism 100 years ago.
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In February, SpaceX acquired E. Musk’s artificial intelligence company xAI, which itself acquired the social network X (formerly Twitter) a year ago. E. Musk also owns about 12% of electric car manufacturer Tesla’s shares. The company’s market value currently stands at about $1.58 trillion.
In mid-February, E. Musk said that his net worth is almost entirely tied to Tesla and SpaceX shares, with cash making up less than 0.1% of his wealth.
Analysts predict that SpaceX and Tesla will merge in 2027, with the latter increasingly focusing on robotics, energy, and autonomous transport. Both companies are already jointly developing some projects, such as the massive semiconductor factory Terafab.
“We continue to believe that SpaceX and Tesla will eventually merge into one company in 2027, as the foundation has already been laid for both companies to become one organization,” Wedbush Securities analysts said, noting that Tesla is a minor SpaceX shareholder through its investment in xAI.
E. Musk also holds shares in The Boring Company, which provides tunnel construction services, and Neuralink, which develops implantable brain-computer interfaces.
W. Robinson said that if E. Musk became the world’s first trillionaire, some people might see him with a “god aura,” but this could lead to a god complex for him personally.
His net worth could grow even more if he meets the criteria of Tesla’s 2025 board-approved compensation plan. If he meets numerous financial and operational targets, he could earn about another $1 trillion over 10 years.
At SpaceX, he could earn more than $130 billion under two compensation plans, but one condition is the continuous establishment of a colony of at least one million people on Mars.
