Elon Musk has become the first person in history to surpass a net worth of $1 trillion following the successful stock market debut of his aerospace company, SpaceX.

According to a CNN report on Friday, the milestone was driven by SpaceX’s initial public offering (IPO), which launched at $135 per share on the Nasdaq Stock Market under the ticker symbol SPCX.

Investor demand pushed the stock price to $165 shortly after trading opened, marking a gain of about 22 percent and lifting the company’s market valuation above $2 trillion.

The surge significantly boosted Musk’s personal wealth. Before the IPO, his net worth was estimated at $813 billion, and the increase in SpaceX’s valuation pushed his fortune beyond the $1 trillion mark.

According to Forbes, Musk was already the world’s richest individual, with a fortune more than twice that of Google co-founder Larry Page, whose wealth is estimated at about $288 billion.

The latest valuation places SpaceX among the largest publicly traded companies in the United States, ranking behind only a handful of tech giants, including Nvidia, Alphabet, Apple, Microsoft, and Amazon.

SpaceX’s growing business portfolio includes Starlink, its satellite internet service, and xAI, Musk’s artificial intelligence company, which developed the Grok chatbot.

The historic milestone further cements Musk’s position as the world’s wealthiest individual and highlights the growing influence of his technology and aerospace ventures.