Elon Musk becomes the world’s first trillionaire after SpaceX IPO

SpaceX opened at $150 on the Nasdaq Friday in a record $75 billion IPO, surpassing Saudi Aramco’s 2019 listing.yahoo
Elon Musk’s roughly 42% stake is valued at about $866.5 billion, pushing his estimated net worth past $1.1 trillion, according to Reuters and Forbes.reuters
Wall Street is divided: bullish analysts target up to $190, while Morningstar pegs fair value at $63 amid a $4.94 billion net loss in 2025.fortune

SpaceX IPO Makes Elon Musk World’s First Trillionaire

Elon Musk crossed the trillion-dollar threshold on Friday as SpaceX began trading on the Nasdaq in the largest initial public offering in history, a milestone that cements the entrepreneur’s position atop the global wealth rankings by an extraordinary margin.

SpaceX shares opened at $150, an 11% jump above the $135 IPO price set Thursday evening, according to Yahoo Finance. Pre-market indications from the Nasdaq had pointed to an opening around $165, or roughly 22% above the offering price, MarketWatch reported.yahoo

A Record-Breaking Debut

The company sold 555.6 million Class A shares at a fixed price of $135, raising approximately $75 billion and valuing SpaceX at $1.77 trillion at pricing. Underwriters led by Goldman Sachs and Morgan Stanley retain a greenshoe option covering an additional 83.3 million shares that could bring the total raise above $86 billion.reuters

At the IPO price, SpaceX immediately ranked among the largest U.S. public companies. The offering shattered the previous record set by Saudi Aramco, which raised $29 billion in 2019.qz

The Trillionaire Calculation

Musk holds roughly 42% of SpaceX through a dual-class share structure that grants him approximately 82% of voting power via Class B shares. At the $135 IPO price alone, that stake is worth about $866.5 billion, Yahoo Finance reported.yahoo

Combined with his Tesla holdings — roughly 717 million shares — and other assets, Reuters and Forbes calculated Musk’s net worth would surpass $1.1 trillion once trading commenced Friday. Before the IPO, Forbes had estimated his fortune at approximately $780 billion, already far ahead of second-place Larry Page, the Alphabet co-founder.reuters

The Bull and Bear Cases

The debut arrives with sharp disagreement on Wall Street. SpaceX posted $18.67 billion in 2025 revenue, up 33% year over year, while swinging to a $4.94 billion net loss, according to Fortune — placing the IPO valuation at roughly 100 times trailing sales. Optimistic analysts have set price targets between $165 and $190, citing the growth trajectory of Starlink and the company’s expanding AI operations, while Morningstar pegged fair value at just $63 per share.fortune

The Washington Post noted that despite modest revenue relative to established tech giants and ongoing losses, the offering reflects investor appetite for Musk’s constellation of ventures spanning rockets, satellite internet, and artificial intelligence.washingtonpost