Elon Musk became the world’s first trillionaire after SpaceX priced its initial public offering at $135 per share on June 11, 2026, with the company beginning to trade on Nasdaq the following day under ticker SPCX. The IPO raised approximately $75 billion and valued SpaceX at roughly $1.75 trillion, making it the largest initial public offering in history. Combined with his stake in Tesla and other assets, Musk’s total net worth exceeded $1.1 trillion, according to reporting from the Washington Post and Reuters.
SpaceX’s record valuation shattered the previous IPO record held by Saudi Aramco, which raised $25.6 billion in December 2019 and valued the oil company at $1.7 trillion, according to CNBC. The fixed-price offering at $135 per share represented an unusual approach for such a massive listing, bypassing the traditional book-building roadshow that typically precedes major IPOs.
Musk’s path to trillionaire status relied heavily on his ownership stake in SpaceX. Based on the company’s IPO prospectus, his roughly 50 percent stake in SpaceX was worth more than $866 billion at the $135 pricing, according to CNBC. His holdings in Tesla, the electric vehicle manufacturer he leads as CEO, contributed an additional estimated $350 billion to his fortune. The remaining portion of his wealth comes from stakes in other ventures including xAI and other private investments.
The SpaceX IPO drew massive investor demand, with the offering oversubscribed multiple times before pricing. Bloomberg reported that retail investors alone submitted more than $70 billion in orders, far exceeding the available shares. The company’s valuation reflected investor appetite for its Starlink satellite internet division, which has emerged as SpaceX’s primary profit driver. According to reports from multiple outlets, Starlink is the only SpaceX business currently operating profitably, generating high-margin recurring revenue that underpins the company’s financial case.
SpaceX had accelerated its IPO timeline in May 2026, moving up from an originally planned summer debut to target a June listing, according to Reuters. The company filed its initial prospectus in April 2026 and began investor presentations in early June before pricing the deal on June 11. The rapid timeline reflected strong market conditions and investor confidence in Musk’s space and satellite ventures.
Reaching trillionaire status caps a remarkable wealth accumulation for Musk. According to Oxfam, his fortune grew by more than $1 million per minute over the preceding year, underscoring the scale of value creation in his companies. His net worth had climbed from roughly $800 billion in February 2026 to exceed $1 trillion by mid-June, a gain of more than $300 billion in four months driven largely by Tesla’s recovery and SpaceX’s soaring valuation ahead of the IPO.
The milestone arrives as Musk faces scrutiny over SpaceX’s valuation, with some analysts questioning whether the $1.75 trillion figure reflects realistic financial projections. SpaceX raised $75 billion in the record IPO, and the company’s dual-class share structure gives Musk voting control over approximately 79 percent of the company despite owning roughly 42 percent of the equity, according to reporting from KeepTrack. This control structure ensures Musk maintains decision-making authority over SpaceX’s strategic direction, including its ambitious goals to put humans on Mars and expand Starlink’s global footprint.
Sources
- Washington Post — Reported Musk becoming the world’s first trillionaire on paper after SpaceX IPO pricing
- Reuters — Confirmed SpaceX IPO pricing at $135 per share and $75 billion raise, reported Musk’s net worth exceeding $1 trillion
- CNBC — Detailed Musk’s SpaceX stake worth $866 billion at IPO price, Tesla holdings at $350 billion, and SpaceX’s $1.77 trillion valuation
- The New York Times — Reported SpaceX IPO pricing and valuation details, compared to Saudi Aramco’s previous record
- Bloomberg — Reported IPO oversubscription with $70 billion+ in retail orders
- Oxfam — Documented Musk’s wealth growth at over $1 million per minute in the preceding year
- Barron’s — Reported composition of Musk’s $1.1 trillion net worth including Tesla and SpaceX stakes
- KeepTrack — Detailed Musk’s voting control at 79% despite 42% equity stake in SpaceX
