Elon Musk becomes the world's first trillionaire

Elon Musk became the world's first verified trillionaire, as a surge in the value of his business empire — led by a blockbuster public listing of his rocket company SpaceX — pushed his personal fortune past the once-unimaginable threshold of one trillion dollars.

The milestone, long predicted by some analysts given the trajectory of his wealth, was driven above all by SpaceX, whose valuation soared as it came to market after years as a privately held company. Musk's large stakes in the electric carmaker Tesla and his other ventures added to a fortune without precedent in modern history.

The achievement crystallised debates that had simmered for years about the extraordinary concentration of wealth at the very top of the global economy. Supporters pointed to Musk's role in reviving American spaceflight, accelerating electric vehicles and pushing technological frontiers. Critics argued that a single individual amassing such riches reflected deep imbalances, and renewed calls for changes to how extreme wealth is taxed.

Musk, already among the most prominent and polarising figures in business and public life, shrugged off the label, insisting his focus was on his companies' missions rather than his net worth, much of which existed on paper in the form of shares.

The trillion-dollar mark, whatever its symbolism, underscored how a handful of technology fortunes had come to tower over the global economy, and how the rewards of the tech era had flowed to a vanishingly small number of people.