Record IPO creates first trillionaire
On Friday, June 12, 2026, Elon Musk became the first person in history to amass a net worth exceeding $1 trillion. SpaceX's record-breaking $75 billion initial public offering pushed his fortune to $1.1 trillion as shares began trading on the Nasdaq under ticker SPCX, opening at $150—up 11% from the IPO price of $135.
The company sold 555.6 million shares at $135 each, giving SpaceX a valuation of roughly $1.77 trillion. Investor demand topped $250 billion, nearly four times the offering size, making it the largest IPO ever. By the end of the first trading day, SpaceX’s market cap surged past $2 trillion, placing it among the six most valuable U.S. public companies.
Musk's stake: $690 billion in SpaceX alone
Musk owns roughly 39% of SpaceX, a stake worth about $690 billion at the IPO price. Combined with his Tesla holdings (over $350 billion) and other assets, his net worth reached $1.1 trillion. Before the IPO, his fortune had already been estimated at $716 billion, according to CBS News.
Wealth surpasses poorest 46% of humanity
Oxfam analysis reveals that Musk’s $1.1 trillion fortune exceeds the combined wealth of the poorest 3.8 billion people—46% of the world population. The anti-poverty group noted Musk’s wealth grew by over $1 million per minute in the past year.
Critics argue the milestone highlights extreme inequality. Musk has been accused of wielding oligarch-like power, with his influence spanning automotive, space, AI, and social media. Governance concerns at Tesla and SpaceX have drawn scrutiny from shareholders and regulators.
What $1 trillion actually means
A trillion dollars is a million millions. Stacked in $100 bills, it would reach over 1,000 kilometers high. Musk’s paper wealth, while volatile, exceeds the GDP of most countries. Yet it remains largely illiquid—existing mostly in stock—though it grants him enormous borrowing power and influence.
Strong demand but skeptics warn of overvaluation
Despite the frenzy, some analysts warn SpaceX’s $1.77 trillion valuation may be excessive. Morningstar’s independent valuation was just $780 billion. The company posted a $4.94 billion net loss in 2025, driven by heavy AI investment, though its Starlink business is profitable.
The stock’s future performance remains uncertain. Past mega-IPOs have sometimes disappointed after initial pops. For now, Musk’s trillionaire status is locked in—at least on paper.