Elon Musk is officially the world’s first trillionaire

Elon Musk has officially become the world’s first trillionaire, though his track record on solving global hunger remains less impressive.

The 54-year-old owner of SpaceX and creator of Tesla has positioned himself as a deeply embedded figure in internet culture and an icon for many on the far-right political spectrum. His business empire and influence are so vast that his network has been nicknamed the “Muskonomy.”

His stake in SpaceX is valued at approximately $866 billion. Combined with Tesla and his other assets, his net worth will exceed $1.1 trillion once trading begins on Friday, June 12.

Musk has co-founded several other ventures, including brain implant maker Neuralink and tunneling startup The Boring Company. He purchased Twitter for $44 billion, quickly renamed it X, and promised to turn the platform into a haven for free speech.

The father of 14 was also invited to join Donald Trump’s executive team after bankrolling the president’s election campaign, becoming head of the Department of Government Efficiency. However, a public falling-out over Trump’s budget bill led to Musk’s resignation. The two exchanged insults on X, at a time when Tesla sales were falling and consumers had begun boycotting the brand. Musk then vowed to investors that he would spend more time focusing on his businesses, and his wealth has only continued to climb.

Matt Durot, deputy editor at Forbes Wealth, said: “The second richest person has been hovering around $300 billion, so about less than one-third of what Musk can potentially be worth tomorrow. And only one other person, (Oracle founder) Larry Ellison, has ever been worth $400 billion.”

Laid end to end, one trillion dollar bills could wrap around the equator 3,890 times and reach the sun from Earth. Musk could give every person in the United States a share of his fortune, with each receiving $2,917.32. If he wanted to give every person on the planet a gift, they would receive $121.80. He could erase all government debt interest across the world, potentially rewriting history. The entire national debt of Singapore, approximately $1 trillion, could be wiped out in a single move.

Oxfam estimates that $37 billion is needed each year until 2030 to tackle extreme and chronic hunger, a sum Musk could easily afford. He famously tweeted that he would give up $6 billion to end world hunger if the UN explained in detail how the money would be spent. The organisation responded with a detailed plan outlining how it would save 42 million lives, including a spending strategy for food procurement and delivery across 43 countries. Musk never replied and did not donate a cent.

Musk could also contribute to fighting disease. Researchers say eradicating malaria is no longer a distant dream but an attainable goal with an additional $2 billion in annual funding by 2050, on top of the $4.3 billion already spent each year. Children’s access to education could also be vastly improved. According to UNESCO, providing universal schooling globally would require an estimated £97 billion in additional annual funding.

For now, however, Musk continues to focus on his businesses. JP Morgan CEO Jamie Dimon said: “Elon is the Edison of our time.”