Elon Musk Becomes World’s First Trillionaire as SpaceX Soars After Record IPO

NEW YORK, June 12 — Elon Musk has become the world’s first trillionaire after shares of SpaceX surged in their Nasdaq debut following the company’s record-breaking initial public offering (IPO), according to Bloomberg News and market data.

SpaceX shares jumped 23 percent on Friday after opening for trading, rising from the IPO price of $135 per share to around $166 in early trading. The rally pushed the company’s market valuation above $2 trillion, making it the sixth-largest publicly traded company in the United States.

The surge in SpaceX’s stock price significantly boosted Musk’s personal wealth. Bloomberg reported that Musk owned approximately $860 billion worth of SpaceX shares following the IPO. Combined with his holdings in Tesla and gains from SpaceX’s market debut, his net worth crossed the $1 trillion mark, making him the first person in history to achieve trillionaire status.

Record-Breaking IPO

SpaceX raised $75 billion in what became the largest IPO ever, surpassing the proceeds generated by the 2019 listing of Saudi Aramco.

Investor demand for the offering was exceptionally strong, with the IPO reportedly attracting more than $250 billion in orders during the subscription period.

The listing is widely seen as a major test for investor appetite ahead of anticipated public offerings from leading artificial intelligence firms, including OpenAI and Anthropic.

SpaceX President Gwynne Shotwell and Chief Financial Officer Bret Johnsen rang the Nasdaq opening bell on Friday, marking a milestone in the company’s history.

Investors Back Musk’s Vision

Despite posting a loss of nearly $5 billion in 2025 and generating revenue of $18.7 billion, investors have continued to place significant value on Musk’s long-term ambitions.

“Elon deserves an extreme premium because of his track record and his vision for calling technology trends early,” Shaun Maguire, a partner at Sequoia Capital, said.

Several investors compared SpaceX’s growth potential to Tesla’s rise over the past decade, arguing that the company’s future opportunities extend far beyond its current businesses.

SpaceX Bets on AI and Space Infrastructure

In its IPO filings, SpaceX outlined what it described as a $28.5 trillion market opportunity, spanning space transportation, satellite communications and artificial intelligence infrastructure.

The company highlighted the success of its Starlink satellite internet network and its dominance in global launch services, claiming it has been responsible for more than four-fifths of all mass launched into orbit over the past three years.

SpaceX also argued that future AI development could benefit from data centres and computing infrastructure located in space, where energy and physical constraints differ from those on Earth.

“By dramatically reducing the cost of access to space, we have been able to expand our mission to address some of the Earth’s most pressing challenges, including bridging the digital divide,” the company said in its IPO materials.

Growing Influence and Wealth

Musk’s wealth is expected to continue growing. In addition to his SpaceX holdings, he remains the largest shareholder in Tesla and could eventually receive a compensation package tied to Tesla’s performance that analysts estimate could be worth hundreds of billions of dollars.

Although a portion of Musk’s SpaceX shares cannot be sold until the company achieves specific long-term milestones related to its Mars colonisation plans, he can borrow against those holdings, providing access to substantial liquidity.

The IPO also cements Musk’s control over SpaceX. He retains more than 80 percent of the company’s voting power, allowing him to maintain significant influence over strategic decisions and board appointments.

Market Impact

Analysts expect SpaceX to be fast-tracked into the Nasdaq 100 index within weeks, potentially generating additional demand from exchange-traded funds and passive investment vehicles that track the benchmark.

The company’s debut also triggered declines in several competing space and satellite firms, as investors rotated capital into SpaceX shares.

While some analysts have questioned whether the company’s valuation is justified by its current financial performance, supporters argue that investors are valuing SpaceX based on its long-term potential rather than traditional fundamentals.

Also Read: SpaceX IPO Draws Over $250 Billion in Investor Demand

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A Lagos-based journalist with a passion for disseminating factual information and a deep appreciation for good music, good food, movies, and beautiful cars. He hopes to travel the world someday, documenting its beauty and diverse cultures through his storytelling.