Elon Musk Becomes The World's First Trillionaire

SpaceX Completes the Largest IPO in History

Elon Musk has crossed a threshold no person has reached before, becoming the world's first trillionaire on paper following SpaceX's record-breaking stock market debut, according to The Washington Post.

The company raised $75 billion in the IPO, selling 555.6 million shares at $135 each. The deal values SpaceX at $1.77 trillion, making it the seventh most-valuable U.S. company, ahead of Tesla. The listing blows past the previous record-holder for the biggest IPO, Saudi Aramco, whose 2019 listing netted $29.4 billion. SpaceX began trading on the Nasdaq under the ticker SPCX.

SpaceX acquired Musk's AI company xAI earlier this year, making it part of a trio of huge AI-related IPOs in the works. ChatGPT maker OpenAI and Anthropic have also filed paperwork with the SEC to begin the process of what are expected to be giant IPOs of their own, likely later in 2026.

How Musk's Net Worth Crossed $1 Trillion

Musk did not sell any shares in the offering. His SpaceX stake was valued at over $866 billion at the IPO price. When his Tesla holdings of roughly $320 billion are added, his total net worth crosses $1 trillion on paper, according to Axios, making him the world's first trillionaire. However, much of that wealth is tied to stock he has yet to sell.

Musk is expected to retain about 82.4% of the voting power following the Nasdaq debut, giving him virtually complete authority over the company's direction.

The company reported $18.7 billion in revenue and a net loss of $4.9 billion in 2025, according to its regulatory filings. Starlink, its satellite internet service, accounts for the bulk of its revenue and is the only profitable unit. The company has racked up a cumulative deficit of around $41.3 billion since it was founded in 2002.

Despite those losses, Wall Street responded positively. Oppenheimer initiated coverage with an outperform rating and a 12- to 18-month price target of $190, implying a gain of 40% from the IPO price.

Sources:
The Washington Post: Elon Musk is the world's first trillionaire (on paper) thanks to the SpaceX IPO
CNBC: SpaceX raising $75 billion in record-setting IPO as Nasdaq debut awaits
NPR: SpaceX blasts off with a record-breaking $75 billion IPO