Forbes announced on Friday that American entrepreneur Elon Musk has become the first person in history to amass a fortune exceeding $1 trillion, following the debut of SpaceX shares on the Nasdaq stock exchange in a landmark moment for global wealth creation.

SpaceX began trading at $150 per share, pushing the company’s market capitalization to nearly $2 trillion. The surge significantly boosted Musk’s net worth, which Forbes estimated at approximately $1.1 trillion on Friday morning.

Musk’s fortune had already increased by $188 billion on Thursday, reaching around $982 billion after SpaceX priced its initial public offering at $135 per share.

How Elon Musk Built His Fortune

According to Forbes estimates, Musk—who serves as Chairman, Chief Executive Officer, and Chief Technology Officer of SpaceX—owns approximately 4.8 billion shares in the company, valued at around $715 billion. He also holds roughly 350 million stock options worth an estimated $50 billion, giving him a combined stake of about 38% in SpaceX.

From $2 Billion to More Than $1 Trillion

Musk first appeared on Forbes’ annual billionaires list in 2012 with an estimated net worth of $2 billion, ranking 634th among the world’s wealthiest individuals at the time.

Since then, his fortune has grown at an extraordinary pace. In January 2021, he became the world’s richest person for the first time, driven largely by the rapid rise in Tesla’s stock price, surpassing Amazon founder Jeff Bezos.

A Milestone Once Considered Impossible

Matt Durot, Forbes’ Deputy Editor for Wealth, described Musk’s rise to a trillion-dollar fortune as a historic achievement that would have seemed impossible only a few years ago.

He noted that the milestone highlights the unprecedented speed at which wealth can be created in an increasingly interconnected and technology-driven world, adding that it marks a new chapter in the evolution of entrepreneurship and global business.

Musk’s Outlook on Artificial Intelligence and Robotics

Speaking during a live discussion with Forbes at the “Forbes 250 Innovators” celebration, which honors leading American innovators and founders, Musk shared his vision for the future of technology.

He predicted that digital intelligence would surpass the combined intelligence of humanity within five years. Musk also forecast the existence of at least 100 million humanoid robots during that period, with the possibility of reaching one billion robots worldwide.

He further suggested that the global economy could nearly double in size within five to six years, fueled by an unprecedented acceleration in technological and economic transformation.