SpaceX IPO makes Elon Musk world’s first trillionaire with $1.11 trillion wealth

SpaceX, claimed to be the world’s largest IPO, has been listed on the stock market, making its founder Elon Musk the world’s first trillionaire.

Tesla and SpaceX founder Musk’s total wealth has now reached 1.11 trillion American dollars, further solidifying his position as the world’s richest person. SpaceX has made history by being listed on the Nasdaq stock market with a valuation of 2.2 trillion dollars, marking the largest IPO ever.

Although the company set the price per share at 135 dollars, it rose to 150 dollars when trading began and briefly climbed to 176.50 dollars. Ultimately, by the close of trading on Friday, the share price settled at around 161 dollars. The IPO has raised 75 billion dollars in capital for the company. Musk holds a 42 percent ownership stake in SpaceX, granting him almost complete control over major company decisions.

According to Bloomberg, the value of Musk’s stake in SpaceX alone has exceeded 767 billion dollars. In addition, his shares in Tesla and other investments are worth hundreds of billions of dollars. As a result, Musk’s wealth is now comparable to the annual GDP of countries like Poland or Switzerland, reigniting global debates on wealth inequality.

American Senators Bernie Sanders and Elizabeth Warren have expressed concern over such extreme wealth, arguing for higher taxes on the rich. However, since most of Musk’s wealth is based on stock value, it is considered “paper wealth”. He will not be able to sell his SpaceX shares for at least a year.

SpaceX is not yet profitable

Despite its large valuation, SpaceX has not yet turned a profit. The company has incurred losses exceeding 9 billion dollars due to significant investments in artificial intelligence (AI) and infrastructure development in 2025 and 2026. Its main business involves building and launching reusable rockets. Additionally, SpaceX operates the Starlink internet satellite service and has entered the AI sector after acquiring another of Musk’s companies, X AI.
The company plans to use the funds raised from the IPO for ambitious projects such as rocket technology, Starlink expansion, AI development, and building data centers in space.

Dreams of the Moon and Mars

SpaceX has stated that its long-term goal is to make human life multi-planetary. The company aims to establish a “lunar economy” with regular transportation of humans and goods to the Moon and Mars. However, the company itself acknowledges that there is no guarantee of success for such plans, as many of its projects are based on complex technology, untested concepts, and technologies that do not yet exist.

Investors are excited

Despite the uncertainty surrounding the company’s future, investors appear very enthusiastic. Many have invested based on trust in Musk’s long-term vision for space and technology. However, some analysts warn that the current share price is driven more by excitement, publicity, and future potential than by actual financial fundamentals.

The massive 75 billion dollar IPO has received an enthusiastic response from investors. It is reported that retail investors alone submitted applications worth approximately 70 billion dollars.

Wealth increased by 274 billion dollars in one day

Just before SpaceX’s listing, Musk’s wealth reportedly increased by 274 billion dollars, which is more than the combined wealth of Indian billionaires Gautam Adani and Mukesh Ambani. This year alone, Musk’s wealth has increased by 351 billion dollars. In terms of wealth, he is far ahead of other billionaires.

Even his closest competitors are far behind. Larry Page, who is second on the list of the wealthy, reportedly has a net worth of about 304 billion dollars, which is less than one-third of Musk’s wealth.

How does Musk earn?

Born in Pretoria, South Africa, 54-year-old Musk is an engineer by profession. After graduating from the University of Pennsylvania, he began his journey in the technology sector.

In 2008, he became the CEO of Tesla. Besides Tesla and SpaceX, he has also founded other companies, including The Boring Company and Neuralink. Most of Musk’s income comes from his ownership stakes in Tesla and SpaceX.