SpaceX IPO Makes Elon Musk World’s First Trillionaire as Shares Begin Trading
SpaceX’s initial public offering pushed Elon Musk’s net worth past $1 trillion, with shares trading above the $138 threshold. The IPO reveals the company’s financials and has stirred controversy over Musk’s political actions.
SpaceX, Elon Musk’s aerospace and technology company, has become a publicly traded entity. Its shares are listed on the Nasdaq under the ticker SPCX. According to the financial filing, SpaceX generated $18.67 billion in revenue last year, with over $11 billion coming from its Starlink satellite internet service. However, the company posted a loss of nearly $5 billion, and capital expenditures reached $20.7 billion, up from $11.2 billion in 2024.
SpaceX shares opened at $150 each, above the $138 mark needed for Musk’s wealth to exceed $1 trillion. Musk holds 4.8 billion SpaceX shares, and his net worth before the IPO was around $800 billion. The IPO gives SpaceX a market capitalization of over $2 trillion, making it the sixth most valuable publicly traded company in the US.
The company has merged its rocket, AI, and social media platforms, aiming to build systems for multiplanetary life. SpaceX recently faced latency issues linking its Colossus 1 data center with sites over 10 miles away, leading to rental deals with Anthropic ($15 billion annually) and Google ($920 million monthly).
Elon Musk, who also leads the Department of Government Efficiency (DOGE), has sparked debate with his political remarks. He has supported anti-immigration sentiment in Belfast, Northern Ireland, and endorsed the Restore Britain party. He also called the US Agency for International Development (USAID) a “criminal organization” and celebrated its dismantling.
