Elon Musk has officially become the world’s first trillionaire after his space technology company SpaceX’s shares soared by 30 percent on the first day of trading after its IPO listing.
The newly turned trillionaire joined the solo man’s club after SpaceX debuted the largest IPO valuation in corporate history.
The technology giant started trading under the symbol SPCX with a starting price of $150 per share, an 11 percent gain on IPO pricing of $135 per share.
However, the stock surged during mid-day as investors noted gains after price surged to $175 per share.
Musk owns a 42 percent stake in a reusable rocket-manufacturing company and 717 million Tesla shares.
Combined estimates of his SpaceX stake and Tesla holdings place his net worth at approximately $1.15 trillion, according to market valuations.
Elon Musk revealed that SpaceX has been cash flow positive since 2015; however, the only profitable business of the company is its Starlink constellation. The California-based technology giant aims to expand the constellation by sending another 1,000 satellites in low-Earth orbit.
The satellite internet provider is active in 164 countries and has recorded Q1 2026 revenue at $4,694 million with adjusted EBITDA of $1,127 million. While SpaceX posted a loss of $1.943 billion due to its spending on Starship.
It remains to be seen how SpaceX plans to achieve sustained profitability across its capital-intensive space exploration ventures.
2026-06-12 23:07:00
