Musk Becomes First Trillionaire as SpaceX IPO Soars

SpaceX completed the largest IPO in history, and its surging stock pushed Elon Musk's net worth past the $1 trillion mark for the first time.

A Record-Setting Market Debut

SpaceX has pulled off the largest initial public offering ever recorded, and its first day of trading carried Elon Musk into territory no individual had reached before. According to Variety, the rocket company priced its shares at $135 apiece and raised roughly $75 billion, then opened about 11% higher at $150 when the stock began changing hands on the Nasdaq under the ticker SPCX. The scale of the raise alone reset expectations for what a single offering can absorb.

The momentum did not let up through the session. By the closing bell, the company's valuation-2027-ipo-altman-trillion) had climbed to an estimated $2.11 trillion, and Musk's paper net worth had jumped to around $1.1 trillion. That figure, at least on paper, made him the world's first trillionaire, a threshold that had long been treated as a hypothetical talking point rather than an imminent reality.

Musk Reflects on the Origins

For all the spectacle, Musk struck a reflective note about how far the company had come. "It is certainly hard to believe that a little company that started in a warehouse in El Segundo is now going public with the largest IPO ever," he said, as quoted by Variety. The remark nods to SpaceX's improbable arc, from a startup widely doubted by the aerospace establishment to a business now valued above most of the world's largest corporations.

Several structural details from the report stand out:

Musk retains more than 82% of voting control following the listing, keeping decision-making firmly in his hands.
He is restricted from selling his shares for one year under a lock-up arrangement.
The offering dwarfed previous record IPOs by a wide margin.

The combination of a blockbuster raise and tight founder control is unusual, signaling that public investors are buying into Musk's vision without gaining much say over how he pursues it.

Questions About the Valuation

Not everyone is convinced the price tag holds up. Variety noted that analysts at Morningstar flagged the valuation as steep, with the stock trading at roughly 94 times revenue, far above many established technology peers and a multiple that leaves little margin for execution stumbles. Such ratios tend to bake in years of flawless growth, and any disappointment can unwind them quickly.

The report also pointed to softer numbers elsewhere in Musk's empire. His social platform X generated about $1.8 billion in advertising revenue in 2025, down sharply from the $4.5 billion that Twitter brought in back in 2021, a reminder that not every venture under his control is firing on all cylinders.

What It Means

Even with the skepticism, the debut cements SpaceX as one of the most valuable companies in the United States and recasts the broader conversation around private space ventures, which until recently struggled to attract this kind of capital. For Musk, who already topped the ranking of the world's richest people, the listing converts a long-running paper fortune into a historic financial benchmark. Whether that benchmark proves durable will depend on how the company performs once the opening-day euphoria fades, and skeptics caution that the market may be getting ahead of itself.