Elon Musk became the world’s first trillionaire on June 12, 2026 when SpaceX began trading on the Nasdaq under the ticker symbol SPCX. The company priced its IPO at $135 per share, raising a record $75 billion and valuing SpaceX at approximately $1.77 trillion, the largest initial public offering in history. Shares jumped to $150 when trading opened shortly before noon Eastern Time, driving Musk’s combined net worth to an estimated $1.1 trillion.
Musk owns roughly four out of every ten SpaceX shares after the offering. The value of his SpaceX stake alone reached an estimated $690 billion, and combined with his holdings in Tesla and other assets, his total net worth crossed the trillion-dollar threshold.
Before the IPO, Musk was worth an estimated $813 billion, a fortune more than twice as large as the planet’s second-richest person, Google co-founder Larry Page, who is worth an estimated $288 billion (according to Forbes).
Musk addressed staffers at a launch event at the company’s headquarters in Starbase, Texas.
“SpaceX wants to be able to take you to the Moon, take you to Mars and ultimately beyond,” he said.
As recently as the summer of 2024, Musk, Bezos, and Bernard Arnault were swapping the title of world’s richest person on a near-daily basis, with net worths hovering around $200 billion. Now, not even two years later, Musk has amassed a fortune worth twice as much as Bezos and Arnault combined.
SpaceX builds and operates spacecraft and runs the Starlink satellite internet service, which now covers most of the planet with broadband connectivity. The company has completed over 400 orbital launches and dominates global commercial launch services. Revenue hit $18.67 billion in 2025, with adjusted EBITDA of $6.58 billion. The IPO proceeds will fund continued Starship development and Musk’s stated goal of establishing a permanent human presence on Mars.
A trillion dollars is practically impossible to imagine, equivalent to about $27 million per day for a century. Musk’s fortune now exceeds the GDP of countries including Sweden, Argentina, and the Netherlands.
