Historic $75 billion stock market debut values SpaceX at $1.77 trillion, pushing Musk’s wealth above $1 trillion.
Image: Al Jazeera
Elon Musk has become the world’s first trillionaire following the record-breaking initial public offering (IPO) of SpaceX, which raised $75 billion and valued the company at approximately $1.77 trillion. The company priced its shares at $135 each, making it the largest IPO in US history.
The IPO significantly boosted Musk’s fortune, driven largely by his massive stake in SpaceX, which includes its satellite internet business Starlink and artificial intelligence ventures. Analysts estimate his net worth now exceeds $1.1 trillion, placing him far ahead of any other billionaire.
Musk, already known for leading Tesla and acquiring X (formerly Twitter), has built a business empire spanning electric vehicles, space exploration, artificial intelligence, social media, and biotechnology. Supporters view him as a visionary innovator, while critics have raised concerns about his growing influence in business and politics.
Despite questions about valuation and profitability, investor demand for the SpaceX offering was exceptionally strong, underscoring continued confidence in Musk’s long-term ambitions and what market observers call the “Elon premium.”
