The company’s IPO, priced at $135 per share, vaulted Musk’s stake in SpaceX to approximately $860 billion. This windfall arrives alongside his existing equity in Tesla, pushing his total net worth into ten-figure territory. While the stock price saw immediate gains during Friday's early trading, the structure of his holdings ensures he retains ironclad control, with over 80% of voting power and the authority to hand-select the board of directors.
Musk’s financial climb coincides with his deepening influence in federal politics. After contributing $300 million to Donald Trump’s 2024 campaign, he assumed a leadership role in the Department of Government Efficiency. Critics, including researchers at the Harvard T.H. Chan School of Public Health, have linked his aggressive dismantling of federal agencies like USAID to significant humanitarian costs. Despite these controversies, his wealth trajectory remains steep. Tesla shareholders recently approved a compensation package potentially worth an additional $1 trillion, and Musk retains the ability to borrow against his SpaceX shares—a strategy that provides liquidity without triggering immediate tax liabilities, even as the company pursues its long-term, albeit improbable, goal of Martian colonization.
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