Elon Musk Set To Become World’s First Trillionaire, Dangote’s Wealth Rises
- Elon Musk could become the world’s first trillionaire if a planned IPO for SpaceX is achieved
- SpaceX’s growth is driven by its Starlink satellite internet service and commercial rocket dominance
- Aliko Dangote's net worth has also increased, and he is now among the world's top 61 richest men in the world
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Elon Musk could potentially become the world's first trillionaire if the Initial Public Offering (IPO) of SpaceX is executed at the upper end of current market projections.
The development is linked to strong investor expectations that SpaceX could be valued between $1.75 trillion and $2 trillion in a future listing.
Source: Getty Images
If achieved, the IPO could significantly boost Musk's personal wealth, which is already estimated at $676 billion from its investement across Tesla, SpaceX, xAI, and other ventures.
SpaceX is an important part of Musk's portfolio
SpaceX's growth has been driven by Starlink's global expansion, reusable rocket technology, and long-term contracts with NASA and the U.S. Department of Defence.
The company is also investing heavily in Starship development, orbital infrastructure, and artificial intelligence-linked space systems aimed at expanding future commercial space operations, BusinessDay reports.
Despite strong revenue growth, SpaceX continues to record heavy reinvestment spending as it scales up its ambitious space and technology projects.
If SpaceX's valuation materialises as projected, Musk would extend his lead as the world's richest individual, far ahead of other tech billionaires whose wealth is tied largely to public markets and private equity stakes.
However, analysts caution that the trillionaire projection remains speculative, depending on market conditions, execution risks, and long-term investor confidence in space and AI-driven technologies.
Dangote's net worth rises
In Nigeria, industrialist Aliko Dangote saw another gain in his net worth, which now sits at $36.7 billion. Dangote continued to benefit from gains in his conglomerate, which consists of cement, sugar and oil refining.
The business magnate saw a day's increase of approximately $11.1 million in net worth, whereas year-to-date gains were $6.77 billion.
Africa's richest man has jumped in the wealth list to 61st.
Source: Getty Images
Here are the top richest men
- Elon Musk: $676bn
- Larry Page: $328bn
- Sergey Brin: $304bn
- Jeff Bezos: $283bn
- Larry Ellison: $242bn
- Mark Zuckerberg: $215bn
- Jensen Huang: $185bn
- Michael Dell: $172bn
- Bernard Arnault: $161bn
- Jim Walton: $156bn
Musk becomes first person to hit $500bn
Earlier, Legit.ng reported that Elon Musk, the world’s richest person, has become the first individual to amass a net worth of $500 billion.
Musk’s fortune hit a record level following a strong rally in Tesla shares and gains in SpaceX and xAI valuations.
Musk’s net worth, tied to Tesla, SpaceX, and his AI venture, xAI, cements his position as the wealthiest individual ever tracked.
Oracle’s Larry Ellison, who briefly overtook Elon Musk's net worth recently, is now $150 billion behind.
Source: Legit.ng
