Elon Musk became the world’s first trillionaire following the historic initial public offering (IPO) of his aerospace company, SpaceX, on the Nasdaq exchange on June 13. The offering raised over $75 billion, marking the largest IPO in Wall Street history and propelling SpaceX’s market capitalization above $2 trillion. Shares opened at $150 and rose as high as $176 before closing near $161, reflecting nearly a 20% gain on the first day of trading.

SpaceX’s debut boosted the combined net worth of Musk, who also leads electric vehicle maker Tesla, to an estimated $1.1 trillion. The company, founded in 2002, has expanded from rocket manufacturing to include satellite operations, artificial intelligence ventures, and plans for orbital data centers. Musk, addressing employees at SpaceX’s Starbase facility in Texas, reaffirmed ambitions to make human life multiplanetary, with goals to ferry people to the Moon, Mars, and beyond.

The IPO drew significant investor enthusiasm, with retail and institutional buyers eager to participate at an offering price of $135 per share. The nearly $75 billion raised surpassed the previous record held by Saudi Aramco’s 2019 IPO. SpaceX’s strong debut is expected to signal the arrival of additional major technology and AI companies, such as Anthropic and OpenAI, planning public offerings later this year.

Despite the bullish market response, some analysts raised concerns about the valuation. Research firm Morningstar described the IPO as “significantly overvalued,” estimating SpaceX’s true worth at around $780 billion—less than half its opening market capitalization. The company’s ambitions rely in part on unproven technologies, including large-scale orbital data centers and the expansion of its AI business segment, xAI, which competes with other AI developers but has yet to demonstrate profitability.

Financially, SpaceX recorded a net loss nearing $8.7 billion in the 15 months leading up to March 31, 2026, largely due to heavy investments in AI infrastructure and satellite deployment. Revenue for 2025 reached approximately $18.7 billion. The company has offset some costs by leasing AI computing resources to firms such as Anthropic and Google through short-term contracts.

Musk’s control over SpaceX is maintained through a special class of shares, granting him approximately 82% voting power despite owning roughly half of the economic interest. This governance structure has drawn criticism from shareholder advocacy groups and public pension funds, concerned about Musk’s concentration of power and provisions requiring arbitration for shareholder disputes.

At the IPO launch event, Musk stressed the futuristic nature of SpaceX’s goals, including the concept of “moon hotels” and vast Martian colonies, while also highlighting his vision for solar-powered space infrastructure. Market observers noted that Musk’s high-profile leadership and track record of innovation have generated investor confidence despite skepticism over the company’s ambitious targets.

The successful IPO ushers in a new chapter for SpaceX, setting a benchmark for upcoming technology listings and raising questions about the pace and feasibility of their expansive space and AI projects. With trading under the ticker “SPCX,” SpaceX’s performance in the public markets will be closely watched as the company seeks to fulfill Musk’s vision of humanity’s multiplanetary future.