Elon Musk has officially become the world’s first trillionaire after shares of his space technology company SpaceX surged 30 percent on the first day of trading after its initial public offering.
The newly minted trillionaire joined the solo man’s club after SpaceX debuted with the largest IPO valuation in company history.
The tech giant began trading under the symbol SPCX with an initial price of $150 per share, an 11 percent gain on IPO prices of $135 per share.
However, the stock rallied mid-day as investors booked gains after the price rose to $175 a share.
Musk owns a 42 percent stake in a reusable rocket manufacturing company and 717 million Tesla shares.
Combined estimates of his SpaceX stake and Tesla holdings place his net worth at approximately $1.15 trillion, according to market estimates.
Elon Musk revealed that SpaceX has been cash positive since 2015; however, the company’s only profitable business is its Starlink constellation. The California-based tech giant aims to expand the constellation by sending an additional 1,000 satellites into low Earth orbit.
The satellite Internet provider is active in 164 countries and recorded Q1 2026 revenue of $4,694 million with adjusted EBITDA of $1,127 million. While SpaceX had a loss of $1.943 billion due to its spending on Starship.
It remains to be seen how SpaceX plans to achieve sustained profitability across its capital-intensive space exploration projects.
