By Manya Saini and Niket Nishant
June 14 (Reuters) – Few business leaders have been as deeply embedded in popular culture as Elon Musk, the ambitious entrepreneur who has become a central figure in internet culture and amassed a fortune that has made him the world’s first trillionaire.
At a time when concerns about inequality are high and public attitudes toward the ultra-wealthy have soured, opens new tab, Musk has managed to retain a loyal following despite his stratospheric net worth and without the folksy persona that endeared other tycoons such as Warren Buffett to the masses.
While admirers view Musk’s no-filter style as part of his appeal, critics have accused him of wielding oligarch-like power, raised concerns about governance at his companies and objected to his increasingly partisan political interventions.
Still, SpaceX, the sprawling rocket, satellite and AI company that together with electric-car maker Tesla form the center of Musk’s empire, raised a record $75 billion in its initial public offering on Thursday, highlighting investor enthusiasm for his business ventures, and surged in its first day of trading. Following the share sale, Forbes pegged his net worth at roughly $1.1 trillion, far ahead of the man next in line, Alphabet co-founder Larry Page.
“The second richest person has been hovering around $300 billion,” said Matt Durot, deputy editor at Forbes Wealth. “And only one other person, (Oracle founder) Larry Ellison, has ever been worth $400 billion.”Most of Musk’s wealth now rests with SpaceX, where he holds a stake worth roughly $866 billion. His $1.1 trillion net worth now includes stock components that would vest over time.Musk became a household name through Tesla (TSLA.O), opens new tab and SpaceX before expanding his influence with the $44-billion acquisition of social media platform Twitter in 2022. The deal gave him a direct channel to hundreds of millions of users and made him a prominent voice on issues ranging from politics and immigration to government spending and free speech.
His move into politics, particularly his role in U.S. President Donald Trump’s Department of Government Efficiency last year, has been among his most contentious ventures. The political fallout coincided with weakening Tesla sales in several international markets in 2025 as protests and consumer boycotts targeted the electric vehicle maker.
Source : Reuters