Elon Musk has become the first person in history to reach a net worth of more than $1 trillion following the public offering of aerospace company SpaceX.

According to Reuters, Musk crossed the trillion-dollar threshold after SpaceX completed a record-breaking stock market debut that significantly increased the company's valuation.

SpaceX offered 555.6 million common shares at $135 per share on the Nasdaq stock exchange, raising approximately $75 billion. The offering valued the company at about $1.77 trillion.

The sharp increase in SpaceX's market value substantially boosted Musk's personal wealth, given his large ownership stake in the company.

However, media reports noted that much of Musk's fortune remains tied to shares and stock options rather than liquid assets. According to The Washington Post, estimates of his wealth include holdings whose value depends on future developments and long-term projects associated with SpaceX.

Musk's business empire spans several sectors, including space technology, electric vehicles, artificial intelligence and telecommunications. His rise to trillionaire status marks a milestone in the history of global wealth accumulation and reflects the growing influence of technology-driven enterprises in financial markets.(ILKHA)