SpaceX IPO makes Elon Musk world’s first trillionaire

Elon Musk has become the world’s first trillionaire, strengthening his position as the richest person on the planet after SpaceX raised a record $75 billion in its initial public offering.

SpaceX stock jumped up to 30% in its trading debut on Friday, rising from $135 to over $176 a share. The company ended the day up 19%, reaching a $2.1 trillion valuation and becoming the sixth-most-valuable US company, ahead of Broadcom and Tesla.

According to Reuters calculations based on company filings, Musk’s fortune now exceeds $1.1 trillion, with most of his wealth tied to his massive stake in SpaceX. Before the IPO, Forbes estimated his net worth at around $780 billion.

The founders of Google, Amazon, Oracle, and Meta collectively hold an estimated $1.3 trillion in wealth.

A fortune built on bold bets
Musk built his fortune through electric car giant Tesla and rocket company SpaceX before expanding his influence with the 2022 acquisition of social media platform X, formerly Twitter. 

Supporters praise his bold vision and willingness to take risks, while critics question his growing political influence and his leadership style.

The ‘Elon premium’ effect
Investors continue to place huge bets on Musk’s ability to reshape industries ranging from transportation and space exploration to artificial intelligence. Analysts say much of SpaceX’s enormous valuation reflects confidence in Musk himself, creating what some on Wall Street call the “Elon premium.”

Despite controversies surrounding his business and political activities, many investors believe Musk’s track record of turning ambitious ideas into successful companies outweighs the risks.