Peter Diamandis said criticism of Elon Musk’s trillion-dollar net worth is misplaced because the entrepreneur is motivated by the future of humanity.

This defense comes as Musk becomes the first person to reach such a financial milestone, sparking global debate over wealth inequality and the influence of single individuals over critical infrastructure. The timing coincides with the recent public market debut of SpaceX.

Speaking on CNBC’s “Squawk on the Street” on Monday, Diamandis, an early SpaceX investor and founder of the XPRIZE Foundation, said that Musk's goals transcend personal accumulation. "Elon Musk isn’t driven by money; he’s building humanity’s future economy," Diamandis said [1].

Musk reached a net worth of $1 trillion [2] around June 12 or 13, 2026 [2, 3]. This surge in wealth was accelerated by the SpaceX initial public offering, where shares rose 70% on the first day of trading [4]. Diamandis said that the IPO created significant wealth for many people, which he described as a positive outcome [5].

Diamandis said that the market may be underestimating the nature of Musk's aerospace venture. He said SpaceX is being priced as a normal space company, but it is actually a combination of three converging businesses [1]. By framing SpaceX as a multifaceted economic engine rather than a traditional service provider, Diamandis said that the resulting valuation is a reflection of future utility rather than mere speculation.

While critics point to the trillion-dollar figure as an emblem of extreme concentration of wealth, Diamandis said that the focus should remain on the technological advancement Musk pursues. He said that the scale of the ambition — extending humanity's reach into the solar system — requires the scale of capital currently associated with Musk's holdings [1].

“Elon Musk isn’t driven by money; he’s building humanity’s future economy.”

The transition of SpaceX from a private to a public company has shifted the conversation around Elon Musk from his operational success to his unprecedented financial status. By framing Musk's wealth as a tool for 'humanity's future economy,' supporters are attempting to decouple his net worth from traditional views of corporate greed, presenting it instead as the necessary capital for multi-planetary expansion.