BREAKING: Elon Musk has become the world's first trillionaire.

BREAKING: Elon Musk has become the world's first trillionaire.

After SpaceX raised a record $75 billion in its IPO, Musk’s net worth shot up to top $1.1 trillion when the stock began trading Friday, putting him in an economic class of his own.

Combined with his holdings in electric vehicle maker Tesla, as well as other investments and assets, Musk's net worth is now estimated at about $1.1 trillion.

Musk's stake in the rocket and satellite company alone is now estimated at a staggering $690 billion, but it's also a life-changing moment for thousands of workers at the company who hold equity.

Investors who watched Musk help turn Tesla into an automotive giant are now betting he can do the same in space and artificial intelligence, as SpaceX launches the largest IPO in history.