SpaceX's initial public offering (IPO) has made Elon Musk the first-ever trillionaire after stock began trading on June 12, hitting markets at a valuation of nearly US$2 trillion. Since Musk owns roughly four out of every 10 SpaceX shares, this significantly increased the wealth of the already richest man on Earth.
The company builds and operates spacecraft, including satellites deployed in support of its Starlink satellite internet service, and, earlier this year, merged with xAI, the artificial intelligence company that offers the chatbot Grok.
But all this wealth hasn't come without controversy, as Musk's net worth now exceeds the wealth of the poorest 46% of the global population, or about 3.8 billion people, according to a report issued by nonprofit Oxfam on June 11.
Indeed, Elon Musk has become an increasingly controversial figure. Since his 2022 takeover of Twitter (now X) and his emergence as a prominent figure of the far right, the now trillionaire has faced intense public scrutiny. His involvement with the US government in 2025 garnered immense criticism, especially after his cost-cutting drives led to thousands of job losses. Most recently, his AI chatbot Grok has come under fire for facilitating the online abuse of women and children.
Click through the following gallery to learn more about Musk's journey from business to politics, and why it’s been causing such a stir.