Elon Musk Becomes The World's First Trillionaire
Language
Reading Level
Listen to Article
Alignment
With a net worth of nearly $780 billion, Elon Musk had been the world's wealthiest individual for much of the 2020s. This was primarily due to his massive ownership in electric car maker Tesla. But while cars laid his financial foundation, it was rockets that helped make the 54-year-old the world's first-ever trillionaire on June 12, 2026.
This historic milestone was driven by the stock market debut of Musk's aerospace company, SpaceX. Trading under the ticker symbol SPCX, the stock was priced at $135 per share. Strong investor demand sent the price soaring nearly 20 percent on its first day, bringing SpaceX’s market value to over $2 trillion. The share price has continued to rise since then, pushing the company's value above $2.5 trillion as of June 17, 2026.
Because Musk still owns 42 percent of SpaceX, the stock listing added hundreds of billions of dollars to his personal fortune. Experts estimate he is now worth over $1.3 trillion.
To put it in perspective, that is $1 trillion more than the net worth of the world’s second-richest person, Google co-founder Larry Page. In fact, Musk’s wealth now exceeds the economies of all but 19 countries in the world.
The path to the trillion-dollar mark
Musk's rise to a trillion-dollar fortune took decades and included both major successes and near failures. Growing up in South Africa, he became interested in computers at a young age and taught himself to code. By the time he was 12, he had already built and sold a video game to a magazine.
In 1992, Musk moved to the United States to study at the University of Pennsylvania, where he earned degrees in physics and business. After graduating, he relocated to California and started a software company that was sold in 1999, making him a multi-millionaire. Instead of keeping the money, Musk invested it in an online banking company that later became PayPal. It was bought by eBay in 2002 for $1.5 billion, earning him about $180 million from the sale.
Once again, Musk invested much of this fortune into two new companies. He put $100 million into SpaceX in 2002 and $70 million into Tesla in 2004. By 2008, both companies were running out of money. To make matters worse, SpaceX’s first three rocket launches had all failed. Not one to give up, Musk used much of his remaining wealth to keep both businesses alive.
His conviction paid off. In September 2008, SpaceX successfully launched its fourth rocket into orbit. This led to a $1.6 billion contract with NASA to deliver cargo to the International Space Station. Around the same time, Tesla secured the funding it needed to begin building its first mass-market car.
Musk initially joined the list of the world's richest people in 2012 with $2 billion. By 2024, Tesla’s soaring stock pushed his wealth past $400 billion. From there, his fortune continued to climb, eventually making him the world’s first-ever trillionaire.
Resources: theguardian.com, Wikipedia.org, CNN.com
Get the Workbook for this article!
Workbook contains: Article, Reading Comprehension, Critical Thinking Questions, Vocabulary in Context (+ answers), Multiple Choice Quiz (+ answers), Parts of Speech Quiz (+ answers), Vocabulary Game (+ answers)Cite Article
Learn Keywords in this Article
21 Comments
freerangekid14 dayswow this is crazy. (Question what would you do if you had that kinda money?) (A) Donate some of the money (B) Donate All The Money or (D) Keep it all to yourself? (extra question) (what would you donate it to?) (And how much would you donate?)
cydentity1 dayhe is going to invest it into a new idea that will prob make billlions
i_love_god12 daysI would donate some of the money. I would probably give it to kids who really need money. I think I would donate half of a trillion. I honestly don't really care to have a lot of money.
ilovehenrydsaf111 daysI think I just need 1 billion dollars and then I'm good
pofanerotosa22 daysBro 2 lucky I want some of that money but I heard he became a billionaire because they sold him out because he had to do some bills or something.- pofanerotosa22 daysHe is very lucky!!!!!!!
wicytijifaje27 dayshe earned it- rose1329 daysthat is so sickk
thejackguy29 daysFamous people always rich. This guy another level
skyeeee30 daysQuestion for Comment Section: {If you were a trillionaire what would you do with the money?}- rose1313 daysIf I was a trillionaire I would give money to all the poor people and I would make a house for all homeless people!!
- ilovehenrydsaf126 daysI would get a manshion. a king sized bed. a TV in my room. a xbox. and probably a ticket to a ferry
fyigodisgood29 daysIdk maybe first go to Hawaii on a cruise get some new shoes and clothes donate to churches and yeah I would also save some money!
ilovehenrydsafabout 1 month'Course it was him lol 😭 lowk we other Americans could use some of that bro ;-;- mangomango6about 1 monthCool
supersoccerfanabout 1 monthWow, just wow
