Industrialist Anand Mahindra has reacted to Elon Musk becoming the world’s first trillionaire by recalling a moment from 2018 when the Tesla and SpaceX founder was facing doubts over his ambitious plans and the future of his companies.

Mahindra reflected on Musk’s journey and remembered how he had publicly supported him during one of Tesla’s most challenging phases.

“I reached out to Elon in 2018 because innovators are often judged in their toughest moments, not their finest hours. What impressed me then was his resilience. The headlines today are about a trillion-dollar milestone. The real story is that he never stopped believing that today’s impossibility could become tomorrow’s reality,” Mahindra said.

Mahindra was referring to a message he shared with Musk in 2018, when Tesla was struggling with production challenges and facing questions over whether the company could meet its targets.

At the time, Mahindra had written: “Hang in there @elonmusk. Your factory is now humming at a brisk clip. The world needs inspirational innovators like you…”

The message received little attention then, but it gained new relevance this week after Musk crossed the historic $1 trillion net worth milestone following SpaceX’s record-breaking market debut.

 SpaceX’s record-breaking market debut

Musk’s fortune jumped after SpaceX’s blockbuster public market debut, which valued the aerospace and satellite company at nearly $1.77 trillion.

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SpaceX priced its shares at $135 each, raising around $75 billion in one of the biggest IPOs in history.

Strong investor demand pushed the stock higher in early trading, with some estimates suggesting the company’s valuation could soon cross the $2 trillion mark.

The listing has surpassed previous major IPO records, including Saudi Aramco’s 2019 debut, and placed SpaceX among the world’s most valuable publicly traded companies.

Investors have shown confidence in the company because of its dominance in commercial space launches, the rapid growth of its Starlink satellite internet business, and Musk’s long-term plans in areas like artificial intelligence and space technology.

How spaceX changed Musk’s wealth story

Musk’s wealth has always been closely linked to his stakes in Tesla and SpaceX.

Before the IPO, his net worth was estimated at around $788 billion, mainly based on the value of his private SpaceX holdings and Tesla shares.

After SpaceX’s valuation increased, the value of Musk’s stake in the company also jumped sharply. Musk owns around 49% of SpaceX, making his stake worth hundreds of billions of dollars.

This increase pushed his total fortune beyond the symbolic $1 trillion mark.

However, most of Musk’s wealth exists on paper because it is tied to company shares rather than cash. Still, the milestone adds to a series of records he has achieved in recent years, becoming the first person to cross the $300 billion, $500 billion, and $800 billion wealth marks.

More than Just rockets

SpaceX is best known for its reusable rockets and Musk’s ambitious goal of making space travel more accessible, including his vision of sending humans to Mars.

However, investors now see the company as much more than a rocket maker.

Its Starlink satellite internet network has become a major part of the business, providing connectivity to millions of users worldwide. The company’s growing role in technology and AI-related infrastructure has also increased investor interest.

The IPO reflects a wider shift in markets, with investors betting that space technology and artificial intelligence could become some of the biggest growth sectors in the coming decades.

Not everyone is convinced by SpaceX’s valuation

Despite the excitement around SpaceX’s debut, some analysts have questioned whether the company’s valuation is too high compared with its current revenue and profits.

Critics argue that the company’s market value has moved far ahead of its present earnings and warn that high expectations could create risks if growth slows down.

Some market observers have also raised concerns that if SpaceX becomes a major part of stock market indexes, investors could face losses if the valuation falls in the future.

Supporters see a long-term vision

Supporters of Musk and SpaceX believe traditional valuation methods do not fully capture the company’s future potential.

They argue that SpaceX’s control over commercial space launches, its global Starlink network, and its plans in space and AI give it the potential to transform multiple industries.

For now, Musk’s trillion-dollar milestone marks another chapter in his journey — from facing doubts over his ambitious ideas to becoming the first person in history to reach a wealth level once considered impossible.