Elon Musk's wealth could unprecedentedly double if SpaceX proceeds with its potential IPO plans next year, as estimates from Bloomberg's Billionaires Index suggest that a $1.5 trillion offering could raise Musk's stake to historic levels.

According to Bloomberg calculations, Musk's share in his private space company, SpaceX, could exceed $625 billion if the company goes public at this valuation, compared to about $136 billion today.

When accounting for his other assets, primarily his substantial stake in Tesla, Musk's net worth would rise to $952 billion, an increase of $491 billion from its current level, placing him on the brink of joining the "trillion-dollar club."

Two Paths to Becoming the World’s First Trillionaire

Bloomberg analysts see two clear paths for Musk to reach the title of the world's first trillionaire:

1. Tesla's record compensation package he received last month, which is only payable upon Tesla achieving massive targets, including:
• Raising market capitalization to $8.5 trillion (from $1.5 trillion currently)
• Achieving adjusted operating profits of $400 billion (compared to under $13 billion last year)
2. SpaceX's IPO, which could be a stronger and more immediate catalyst.

Musk’s Stake in SpaceX

Musk owns about 42% of the company, according to Bloomberg's estimates based on:

• FCC filings
• Funding round data
• Dilution estimates

SpaceX's current valuation is based on a secondary deal in December 2024 valued at $1.25 billion at an approximate valuation of $350 billion. After applying a liquidity discount, Musk's stake is currently valued at $136 billion.

Despite secondary transactions this year at $400 billion, they have not been counted due to a lack of accurate data on the volume of shares traded.

Can SpaceX’s IPO Compete with Aramco's Record?

A SpaceX IPO at a valuation of $1.5 trillion would put it close to the record set by Saudi Aramco at its IPO in 2019, valued at $1.7 trillion.

However, the comparison shows a clear gap:

Despite its significantly lower revenues, SpaceX boasts unique technical capabilities, massive growth in the Starlink satellite sector, and a near-complete monopoly on commercial rocket launches.

Investor Interest Remains High

Bloomberg reports that the company is currently working on a new deal allowing employees to sell secondary shares worth $2 billion at a valuation exceeding $800 billion.

If the deal is confirmed:

• SpaceX will regain the title of the most valuable private company in the world after recently losing it to OpenAI.
• Musk's wealth will increase by more than $180 billion additional.

And If That Doesn’t Happen… There’s xAI

Even if Tesla or SpaceX stumbles on the road to a trillion, Musk's company xAI recorded a valuation of $200 billion last September - opening a third avenue for increasing his wealth.