NEW YORK, United States — Elon Musk has become the world’s first trillionaire after shares of SpaceX surged 11 percent on their first day of trading following what is being described as the largest initial public offering in history.
The aerospace and technology giant raised more than $75 billion through its Nasdaq debut, with shares climbing from an IPO price of $135 to $150. The rally pushed SpaceX’s market value to approximately $2 trillion and elevated Musk’s personal fortune beyond the $1 trillion mark, further cementing his position as the world’s richest individual.
Okay News reports that the offering generated intense investor demand, with reports indicating it was more than four times oversubscribed. The company, which trades under the ticker symbol SPCX, combines SpaceX’s rocket and satellite businesses with Musk’s artificial intelligence venture xAI and the social media platform X. The successful listing is expected to pave the way for other major artificial intelligence companies, including OpenAI and Anthropic, to pursue public offerings.
Speaking during an event at Starbase, Texas, Musk said SpaceX’s long-term mission remains focused on expanding humanity’s presence beyond Earth. He expressed confidence that the company would eventually make travel to the Moon, Mars and other destinations possible through its growing technological capabilities.
Founded in 2002, SpaceX has evolved from a private rocket startup into a major player in satellite communications, artificial intelligence and space exploration. The company generated $18.7 billion in revenue in 2025, although it recorded a net loss of $4.9 billion due largely to heavy investments in AI infrastructure and expansion projects.
Investors are betting heavily on the future growth of the company’s Starlink satellite internet service, AI operations and ambitious plans for Mars exploration. Company filings project enormous long-term revenue potential across several emerging markets, though analysts note that much of the valuation depends on technologies and business models that have yet to be fully proven.
The record-breaking IPO is also expected to create thousands of new millionaires among current and former employees as well as early investors who backed the company during its rapid rise over the past two decades.
