The initial public offering of SpaceX has propelled Elon Musk to the rank of the first trillionaire in history, according to estimates based on the value of his holdings. Shares of the aerospace group debuted on the Nasdaq at $150, bringing the value of his stake in SpaceX to over $766bn. When combined with his stake in Tesla, his total fortune is estimated at approximately $1,050bn and continues to climb as the SpaceX stock surges on the market.
The SpaceX market debut, presented as the largest ever conducted in the United States, added over $180bn to the executive's net worth. Shortly after trading began, the stock was up approximately 20%, reaching nearly $164, valuing the company at around $2,000bn. Meanwhile, Tesla shares retreated slightly, trading at around $395.
This IPO has also generated significant capital gains for SpaceX employees and executives holding shares. The transaction reportedly created several new billionaires and thousands of millionaires within the company. Elon Musk's crossing of the $1,000bn threshold is expected to reignite debates regarding wealth concentration and the influence of major tech entrepreneurs.
Space Exploration Technologies Corp. designs, manufactures, launches, and operates products and services built on technologies, including rockets and spacecraft. The Company's segments include Space, Connectivity, and artificial intelligence (AI). Its Space segment designs, manufactures, and launches reusable rockets to provide access to space. Its Connectivity segment operates broadband data and communications network powered by approximately 9,600 Starlink broadband and mobile satellites in Low-Earth orbit, delivering connectivity to consumer, enterprises, and government customers over 164 countries, territories, and other markets. In its AI segment, it operates a vertically integrated AI platform spanning its truth-seeking frontier model Grok, AI solutions for consumer and enterprise customers, X-its real-time information, entertainment, and free speech platform and AI computational infrastructure.
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Investor
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Global
Global
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ESG MSCI
ESG MSCI
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