SpaceX Completes the Largest IPO in History Elon Musk has crossed a threshold no person has reached before, becoming the world's first trillionaire on paper following SpaceX's record-breaking
Elon Musk has crossed a threshold no person has reached before, becoming the world's first trillionaire on paper following SpaceX's record-breaking stock market debut, according to The Washington Post.
The company raised $75 billion in the IPO, pricing 555.6 million shares at $135 each. The deal values SpaceX at around $1.77 trillion, making it the seventh most-valuable U.S. company, ahead of Tesla. It is the largest U.S. IPO on record, more than double the $29.4 billion raised by Saudi Aramco in 2019, the previous benchmark. SpaceX began trading on the Nasdaq under the ticker SPCX.
The offering also comes at a moment of intense investor appetite for artificial intelligence. SpaceX acquired Musk's AI company xAI earlier this year, making it part of a broader wave of mega-IPOs from AI-related companies, with OpenAI and Anthropic expected to follow later in 2026.
Musk did not sell any shares in the offering. His SpaceX stake was valued at over $866 billion at the IPO price. When his Tesla holdings of roughly $320 billion are added, his total net worth crosses $1 trillion on paper, according to Axios, making him the world's first trillionaire. However, much of that wealth is tied to stock he has yet to sell.
Control of the company remains firmly with Musk. He holds 82% of SpaceX's voting power after the IPO, giving him virtually complete authority over the board.
The financial picture for SpaceX itself is more complex. Revenue rose 33% to $18.67 billion in 2025, but the company recorded a net loss of $4.94 billion that year, largely driven by heavy investment in AI infrastructure. Starlink, its satellite internet service, remains the only profitable business unit. SpaceX has accumulated a deficit of around $41.3 billion since its founding in 2002.
Despite those losses, Wall Street responded positively. Oppenheimer initiated coverage with an outperform rating and a price target of $190, implying a potential 40% gain from the IPO price.
Sources:The Washington Post: Elon Musk is the world's first trillionaire (on paper) thanks to the SpaceX IPOAxios: SpaceX raises $75 billion in its IPOCNBC: SpaceX raising $75 billion in record-setting IPO as Nasdaq debut awaits
