In June, the World’s First “Trillionaire” Is Set to Emerge: Elon Musk

An IPO prospectus has brought Elon Musk within one step of becoming a “trillionaire.”

On May 20, SpaceX (Space Exploration Technologies Corp.) officially filed its IPO prospectus (Form S-1) with U.S. securities regulators. The document revealed a key figure: Musk holds approximately 5.1 billion shares of SpaceX, along with about 350 million options with an exercise price of $8.39.

Based on the previously reported $2 trillion target valuation by Bloomberg, Musk’s total net worth would reach a staggering $1.1 trillion. Even if the valuation drops to $1.75 trillion, combined with his Tesla shares valued at $292 billion and other equity interests, he would still cross this threshold.

The SpaceX IPO pricing is expected on June 11, with trading officially starting the next day.

How Much Money Does Musk Have Now?

Currently, the Bloomberg Billionaires Index values SpaceX at $1.03 trillion. This figure is based on two reference points: an $80 billion valuation from an equity transfer in December 2025, and the valuation from xAI’s funding round in January 2026—after which Musk merged the two companies a month later.

This valuation will be updated after the IPO pricing on June 11.

Musk, aged 54, has been the world’s richest person for nearly two consecutive years. If his net worth reaches $1.1 trillion, his wealth would be more than three times that of the second-richest person, Google co-founder Larry Page (net worth $327.8 billion).

Compensation Plan: The Biggest Reward Requires a Mars Colony

The prospectus also disclosed Musk’s compensation structure at SpaceX, which is similar to his plan at Tesla—tied to both financial and operational targets, with equity awards granted only upon meeting these goals.

However, SpaceX’s targets are far more aggressive than Tesla’s.

The top-tier reward is as follows: If SpaceX’s market capitalization exceeds $7.5 trillion (surpassing any company currently on Earth) and the company has established a permanent colony on Mars with a population of at least one million, Musk will be granted 1 billion restricted shares.

There is also a separate award: If SpaceX achieves the goal of “non-Earth data centers with annual computing power reaching 100 terawatts” and hits a market capitalization milestone of approximately $6.6 trillion, Musk will receive over 300 million performance-based restricted shares.

Bloomberg pointed out that even if none of these targets are met, Musk is still highly likely to remain the world’s richest person in the coming years.

IPO Turns More Than One Person into a Billionaire

The wealth effect of this IPO is not limited to Musk alone.

The prospectus shows that if SpaceX achieves a $2 trillion valuation, company President Gwynne Shotwell, Chief Financial Officer Bret Johnsen, and board member Luke Nosek will all join the ranks of billionaires based on their respective shareholdings.

Wealth Concentration Sparks Political Controversy

The rapid expansion of Musk’s wealth has triggered significant criticism in U.S. political circles.

Democratic lawmakers, especially after Musk began using his personal wealth to support conservative political figures and led the Trump administration’s efforts to cut government spending, have noticeably intensified their criticism.

U.S. Representative Pramila Jayapal, a Democrat from Washington State, asked directly in an interview: “Is it reasonable to concentrate so much wealth in the hands of a very few people, allowing them to control everything in our lives?”

SpaceX did not comment on the matter.