Elon Musk has become the world’s first trillionaire following the stock market debut of SpaceX, which surged on its first day of trading and pushed the company’s valuation above $2 trillion.
Shares of SpaceX closed at $161 on the Nasdaq on Friday, up from the initial public offering (IPO) price of $135. The strong performance lifted the company’s market value to approximately $2.1 trillion, making it one of the most valuable publicly traded companies in the United States.
The IPO raised $75 billion from investors before trading began, making it the largest stock market debut on record.
Shortly after the company’s first trade was completed, SpaceX posted a brief message on X, the social media platform owned by Musk: “Liftoff! First $SPCX trade complete.”
According to the Bloomberg Billionaires Index, Musk’s net worth has risen to about $1.1 trillion. His 42 per cent stake in SpaceX is now valued at roughly $767 billion.
SpaceX entered the market with an estimated valuation of $1.8 trillion. By the close of trading, its value had increased enough to place it among the six largest publicly traded companies in the country.
Trading under the ticker symbol SPCX, the company attracted strong investor demand from the start of trading on Friday.
The listing marks a major milestone for SpaceX, which was founded in 2002. Over the past two decades, the company has expanded from a private rocket manufacturer into a major player in satellite communications, aerospace technology and artificial intelligence infrastructure.
Its Starlink satellite internet service has played a key role in broadening the company’s business beyond space transportation.
Speaking ahead of the listing, Musk reflected on the company’s early years, saying he once believed SpaceX had only a 10 per cent chance of success.
Musk’s wealth has been built through a series of technology ventures, beginning with the co-founding of Zip2 and PayPal. Proceeds from those businesses were later invested in companies including SpaceX, Tesla, xAI and X.
The rise in SpaceX’s valuation has significantly increased Musk’s personal fortune, placing him in a category unmatched by any other individual in modern business history.
