Elon Musk became the world’s first trillionaire on June 12, 2026, after SpaceX shares soared during their debut on the Nasdaq, pushing his net worth past $1 trillion for the first time in history.
SpaceX priced its initial public offering at $135 per share on June 11, then opened trading Friday at $150 per share—an 11% jump from the IPO price. The stock climbed further throughout the day, closing at $161.11, according to The New York Times, valuing the rocket and satellite company at more than $2 trillion.
The IPO raised $75 billion, making it the largest initial public offering ever recorded. SpaceX sold 555.6 million shares at the fixed $135 price, according to multiple sources including TechCrunch and Reuters. The record-breaking valuation reflects investor appetite for the company’s Starlink satellite internet service, space infrastructure ambitions, and artificial intelligence initiatives.
Musk holds approximately 42% of SpaceX with 82% voting control, according to social media posts citing detailed ownership breakdowns. At the IPO price of $135 per share, his stake in SpaceX alone was worth roughly $688 billion, according to Business Insider. Combined with his Tesla holdings and other assets, his total net worth reached approximately $1.1 trillion, according to Forbes’ real-time billionaires list as of June 12.
Wealth Concentration in SpaceX and Tesla
Musk’s fortune is heavily concentrated in his two main companies. SpaceX now accounts for the majority of his wealth, with the company’s newly public valuation dramatically increasing his paper net worth. Before the IPO, Musk’s fortune was estimated at roughly $835 billion in early June 2026, according to multiple sources tracking his wealth through Bloomberg and Forbes.
His Tesla stake, where he owns about 10% of the electric vehicle company plus options to acquire another 8% according to Forbes, remains significant but is now overshadowed by his SpaceX holdings following the IPO. The shift reflects how private company valuations can dramatically reshape billionaire rankings once those companies go public.
A Historic Milestone
Reaching trillionaire status marks an unprecedented wealth threshold. The previous record holder for individual wealth was John D. Rockefeller, whose fortune at its peak was valued at roughly $1.2 billion in nominal terms—equivalent to approximately $29 billion in today’s dollars, according to Forbes. This means Musk’s wealth is roughly 38 times larger than Rockefeller’s adjusted-for-inflation fortune.
Musk’s status as a trillionaire remains largely on paper, tied to stock valuations that fluctuate with market conditions. The Washington Post noted that his $1.1 trillion fortune depends partly on SpaceX achieving ambitious future goals, including putting humans on Mars. If SpaceX’s valuation declines or Tesla’s stock price falls, his net worth would shrink accordingly.
Sources
- The New York Times — SpaceX IPO opening price, closing price of $161.11, and Musk’s trillionaire status confirmation
- TechCrunch — IPO share pricing at $135 and total shares sold (555.6 million)
- Reuters — IPO pricing details and $135 per share confirmation
- Business Insider — Musk’s SpaceX stake value at IPO price ($688 billion)
- Forbes — Musk’s estimated net worth of $1.1 trillion and Tesla ownership percentage (10%)
- The Washington Post — Musk’s trillionaire status on paper and dependence on SpaceX execution
- CNBC — SpaceX IPO as largest ever and Musk becoming first trillionaire
- NPR — SpaceX valuation of $1.75 trillion at IPO price and company ranking among largest listed companies
- ABC News — IPO price targeting and market valuation details
