Elon Musk Becomes World’s First Trillionaire After SpaceX IPO Pricing

Tech billionaire Elon Musk has become the first individual in history to surpass a $1 trillion net worth, at least on paper, following the pricing of the much-anticipated initial public offering (IPO) of SpaceX.

The milestone was reached after SpaceX shares were priced at $135 each, a development that significantly boosted Musk’s estimated wealth beyond the trillion-dollar threshold, according to market valuations.

Before the IPO pricing, Musk’s net worth was estimated at about $813 billion, already making him the world’s richest individual by a wide margin.

Data from Forbes showed his fortune was more than double that of Google co-founder Larry Page, whose wealth is estimated at around $288 billion.

The SpaceX stock, expected to trade under the ticker symbol “SPCX,” is scheduled to begin trading on the Nasdaq Composite as markets open on Friday at 9:30 a.m.

The development highlights the expanding scale of global ultra-wealth, with a trillion dollars now comparable to the annual gross domestic product of several major economies.

World Bank data indicates that only 19 countries worldwide have economies exceeding $1 trillion, including the United States and the Netherlands.

The IPO is also expected to generate substantial wealth for early investors and employees of the company. Reports suggest that about 4,400 SpaceX staff could become millionaires once trading begins.

Despite this broader distribution of wealth, Musk remains the largest beneficiary due to his significant ownership stake in SpaceX, further cementing his position as one of the most influential figures in global technology and finance.

Artificial intelligence is steadily moving beyond software applications into the physical side of business operations, as companies in food production and logistics increasingly deploy data-driven systems to support real-time decision-making. The shift is evident in the latest strategy unveiled by The Hershey
Company during its Investor Day, where the firm outlined plans to embed AI across its operations, from sourcing analytics to plant automation and product fulfilment.

According to the company, the initiative will focus on improving how the business runs behind
the scenes, with AI guiding decisions on procurement and distribution to build “a faster, smarter
and more resilient supply chain powered by automation and AI-enabled decision making.”
Hershey noted that supply chains in the food and snack sector remain under constant pressure due to fluctuating costs, seasonal demand, and retailer expectations for timely and accurate deliveries.

To address these challenges, the company said its digital planning tools would integrate various aspects of the business, helping to reduce waste, optimize inventory levels, and improve service delivery through better data connectivity across the supply chain. Central to the strategy is what Hershey described as “AI-enabled decision-making,” which seeks to link sourcing and delivery systems more closely while deploying automated fulfilment technologies to improve speed to market and handle customized product assortments.

The company also disclosed plans to expand automation within its manufacturing plants, using AI to enhance efficiency and embed intelligence directly into production systems rather than treating it as a separate analytical tool. Industry analysts say the approach reflects a broader trend in which firms are moving from limited AI pilot projects to full-scale integration across core business functions, particularly in sectors reliant on physical goods.

Food manufacturers, including Hershey, continue to grapple with volatile input costs for commodities such as cocoa and sugar, which are influenced by weather conditions, trade dynamics, and supply disruptions, making responsive and data-driven systems increasingly critical. Chief Executive Officer Kirk Tanner said the company’s direction is anchored on growth and execution, noting that the strategy positions Hershey to respond faster to market changes while strengthening operational performance.

A Nigerian lending software startup, Lendsqr, is building an artificial intelligence model that analyzes borrowers’ voices and faces to determine if they qualify for a loan.

The model aims to facilitate easy lending processes and benefit both lenders and borrowers.

According to statistics, only 6% of Nigerian adults have formal credits, and fewer than 12% of the country’s 41 million small businesses have access to credit, despite Nigerian banks consistently reporting record deposits.

Lendsqr’s AI model seeks to address these issues by providing an alternative method of credit evaluation.

The AI model will ask borrowers questions about their jobs and how they intend to pay, and they will respond either by video or voice.

The model will then predict whether the borrower will repay or default.

According to Adedeji Olowe, Lendsqr’s CEO, the model will help lenders judge borrowers’ capacity to repay the loan and their intention to repay.

The company plans to expand credit access not just in the Nigerian market but also to other countries, including Canada, to support migrants and new students.

“Africa is the primary target because this is where the problem is largest,” Olowe said.

The model has shown promising results, with an accuracy rate of 76% in previous tests.

Lendsqr plans to release the model when it reaches 90% accuracy.

The company will also make its research findings public and allow competitors to use the data to power their loan engines.