Elon Musk is on the verge of becoming the world's first trillionaire, with his net worth projected to skyrocket following SpaceX's highly anticipated Wall Street debut; this imminent financial milestone is attributed to his significant 42 percent ownership stake in the rocket and AI company, which will propel him far beyond his current estimated $696 billion net worth, an amount already substantially larger than that of the world's second-richest individual, Google co-founder Larry Page, whose assets are valued at $304 billion.

Elon Musk is on the verge of becoming the world's first trillionaire, with his net worth projected to skyrocket following SpaceX's highly anticipated Wall Street debut; this imminent financial milestone is attributed to his significant 42 percent ownership stake in the rocket and AI company, which will propel him far beyond his current estimated $696 billion net worth, an amount already substantially larger than that of the world's second-richest individual, Google co-founder Larry Page, whose assets are valued at $304 billion.

Elon Musk is on the verge of becoming the world's first trillionaire, with his net worth projected to skyrocket following SpaceX's highly anticipated Wall Street debut; this imminent financial milestone is attributed to his significant 42 percent ownership stake in the rocket and AI company, which will propel him far beyond his current estimated $696 billion net worth, an amount already substantially larger than that of the world's second-richest individual, Google co-founder Larry Page, whose assets are valued at $304 billion.

Elon Musk is set to become the world’s first trillionaire following SpaceX's Wall Street debut on Friday.

Musk's current net worth is estimated to be around $696 billion, according to the Bloomberg Billionaires Index. However, this is set to change as the data was accumulated before SpaceX announced its record-breaking initial public offering on Thursday. His 42 per cent stake in the rocket-and-AI company will take him into uncharted territory, reports said.

The 54-year-old Musk is said to be more than three times richer than Google co-founder Larry Page, who is the world’s second-richest man. As per the Bloomberg Billionaires Index, Larry Page owns assets worth $304 billion.

As a trillionaire, Musk would be worth roughly 3 per cent of the US GDP, a report claimed. It will also put him among the wealthiest people of all time.

SpaceX, the sprawling rocket, satellite, and AI company that together with electric-car maker Tesla forms the centre of Musk's empire, raised a record $75 billion in its initial public offering on Thursday, highlighting investor enthusiasm for his business ventures.

"The second-richest person has been hovering around $300 billion, so that is less than one-third of what Musk can potentially be worth tomorrow," said Matt Durot, deputy editor at Forbes Wealth. "And only one other person, (Oracle founder) Larry Ellison, has ever been worth $400 billion."

Most of Musk's wealth now rests with SpaceX, where he holds a stake worth roughly $866 billion. Along with Tesla and the rest of his properties, his net worth will exceed $1.1 trillion when the stock begins trading Friday, according to Reuters calculations based on company filings.

Musk was born in Pretoria, South Africa, to a Canadian mother and a South African father. He attended the University of Pennsylvania, graduating in 1997. He took over as Tesla's CEO in 2008 with the conviction that electric vehicles could combine high performance with software-driven features, helping redefine the global automotive industry.

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