Elon Musk: The World’s First Trillionaire Courtesy of SpaceX IPO
In a landmark event for global finance, Elon Musk has officially been crowned the world’s first trillionaire. This monumental achievement comes in the wake of the highly successful IPO of his rocket and aerospace company, SpaceX. SpaceX made its grand debut on the Nasdaq on June 12, 2026, under the ticker “SPCX”. The shares opened at a robust $150, which was an 11% premium over the IPO pricing of $135 per share.
The IPO saw SpaceX raising a staggering $75 billion. This not only made it the largest IPO in history, but also surpassed the previous record held by Saudi Aramco’s $29 billion debut in 2019. The IPO valued SpaceX at approximately $1.77 trillion. The shares later saw a surge above $160, momentarily pushing its market cap over $2 trillion. With Musk’s holdings in Tesla and other investments taken into account, his net worth is now estimated to be around $1.1 trillion.
SpaceX’s portfolio is diverse, encompassing rocket manufacturing, the Starlink satellite internet service, AI ventures, and ownership of X (formerly Twitter). The company attracted enormous investor demand, with Reuters reporting over $250 billion in orders. The surge is largely attributed to Starlink, which contributes as much as 80% of SpaceX’s revenue. Despite the overwhelming enthusiasm, analysts at Morningstar have cautioned that the IPO is “significantly overvalued,” estimating the company’s fair value to be around $780 billion.
Source: Fox Business | Al Jazeera