Musk becomes world's first $1 trillion tycoon

2026-06-13

Musk's net worth tops $1 trillion

US entrepreneur Elon Musk's net worth topped $1 trillion on the 12th, the first in the world to do so. Shares of newly listed US SpaceX traded above the offer price, boosting the value of his assets.

SpaceX listing lifts wealth

In Forbes' billionaires ranking, Musk's net worth temporarily reached $1.1 trillion. Musk holds about 40% of SpaceX shares, and the company's stock accounts for more than half of his net worth. Rising share prices directly drive gains in his fortune.

Since the autumn of 2025, when he briefly ceded the top spot to Larry Ellison, chairman and founder of US Oracle, Musk has maintained the world's top ranking. Over the past year, his wealth has roughly tripled, and as of the 12th it exceeded the combined fortunes of the people ranked 2nd to 5th, including US Google, US Amazon.com and Oracle founder Larry Ellison, on his own.

Scale exceeds Japan's budget

$1 trillion exceeds Japan's total general account budget of 122.3 trillion yen for fiscal 2026. Compared with the roughly $193,000 median net worth of US households in 2022, as surveyed by the US Federal Reserve, it amounts to more than 5 million times that figure.

It is wealth that stands out even in historical terms. According to Tom Nicholas, a professor at Harvard Business School, and others, oil magnate John D. Rockefeller's net worth in 1937 was equivalent to 1.5% of US GDP at the time and had long been seen as the highest in history. Musk's current net worth is equivalent to 3% of US GDP.

Criticism grows over political influence

Musk also faces criticism for using his vast wealth to increase his influence over politics and society. In the 2024 US presidential election, he spent about $300 million, helping Donald Trump win. He also briefly joined the administration.

He is also said to be supporting Republican candidates ahead of the midterm elections in November. Through X, formerly Twitter, which he bought in 2022, he is backing right-wing forces in Europe as well.

On the other hand, most of Musk's net worth consists of shares in SpaceX and electric vehicle giant Tesla, meaning it cannot be readily turned into cash. SpaceX shares are subject to a sale restriction period of about one year after the listing. If Musk were to sell SpaceX or Tesla shares, stock prices could fall sharply.

Opinion divided in New York

Views on Musk, now the world's first 'trillionaire,' are divided. A protest against SpaceX's listing was held in New York City on the 12th.

In front of the headquarters of JPMorgan Chase, the largest US bank, which planned to hold a listing celebration party that evening, about 20 people held banners reading 'Stop Elon' and 'We don't need trillionaires' and shouted slogans including 'SpaceX is the worst.'

Jonathan Westin, who led the protest, said SpaceX's corporate value is overestimated. He also criticized Musk, saying, 'He has a lot of inappropriate behavior and strong prejudice. It is abnormal for economic power to be concentrated in someone like him.'

On the other hand, some praised his business skills. Seaho, a retail investor in his 30s who works at a financial institution in New York, called SpaceX 'a really fun and successful company to watch' and rushed to Nasdaq during an earlier lunch break. 'I have been watching it since around 2013, but there were no reusable rockets then. Now they launch regularly,' he said.

Haig Elmizian, 23, who owns SpaceX shares, watched the listing unfold in front of Nasdaq. 'People are excited, but the current share price is expensive,' he said calmly, adding, 'If the overheating reaches a peak, it will become impossible to contain. Maybe we are around the halfway point now.'

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