SpaceX founder and chief executive officer Elon Musk has become the first person in history to accumulate a net worth of $1 trillion (£790 bn), following the highly anticipated stock market debut of his rocket company.
The historic financial milestone was triggered on Friday as shares of SpaceX began trading publicly on the Nasdaq under the ticker symbol “SPCX”.
The company priced its initial public offering (IPO) at $135 per share, but investor demand saw the stock surge by roughly 22% to $165 shortly after the opening bell. The opening rally pushed SpaceX’s overall valuation past the $2 trillion mark and lifted Mr Musk’s personal fortune over the trillion-dollar threshold.
Before the public listing, Mr. Musk was already comfortably positioned as the world’s richest man with an estimated wealth of $813 billion—more than double that of the world’s second-richest person, Google co-founder Larry Page, who is valued at $288 billion.
With Friday’s market gains, Mr. Musk’s net worth now exceeds the combined wealth of the next three billionaires on the Bloomberg Billionaires Index: Larry Page, Sergey Brin, and Oracle founder Larry Ellison.
At its current valuation, SpaceX has instantly become the sixth-largest publicly traded corporation in the United States, sitting just behind tech giants Nvidia, Alphabet, Apple, Microsoft, and Amazon.
Aside from its primary aerospace operations, SpaceX serves as the parent company for Starlink, the satellite internet service provider, and xAI, Mr. Musk’s artificial intelligence venture, which operates the Grok chatbot.
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