NEW YORK — In a landmark moment for global markets and personal wealth, Elon Musk has officially become the world’s first trillionaire. The milestone was achieved on Friday, June 12, 2026, following the highly anticipated initial public offering (IPO) of SpaceX on the Nasdaq exchange.

A Historic Market Debut

SpaceX, the aerospace giant founded by Musk in 2002, began trading under the ticker symbol SPCX with an opening price of $150 per share. This followed a record-setting IPO price of $135, which raised approximately $75 billion the largest IPO in Wall Street history, surpassing the 2019 debut of Saudi Aramco.

Following the opening bell at Nasdaq MarketSite, SpaceX’s valuation surged, quickly pushing the company’s market capitalization above $2 trillion. This surge in value, combined with his substantial equity stake in the company and his other ventures, propelled Musk’s estimated net worth to over $1.1 trillion.

Market Impact and Investor Enthusiasm

The IPO was heavily oversubscribed, with institutional investors and sovereign wealth funds including entities from Saudi Arabia and Kuwait seeking to secure positions in the aerospace firm. Analysts have noted that the listing serves as a "dress rehearsal" for other anticipated public offerings in the artificial intelligence and technology sectors.

Despite reporting a loss of nearly $5 billion last year, investors have rallied behind the company’s ambitious roadmap, which includes the rapid expansion of its Starlink satellite internet network currently responsible for approximately 80% of the firm's revenue and continued development of next-generation infrastructure for space exploration and AI data centers.

Musk’s Road to the Trillion-Dollar Milestone

The achievement marks the culmination of a decade-long ascent in wealth, driven by the explosive growth of Tesla and SpaceX. Musk, who holds a significant stake in SpaceX including stock options, had previously dismissed concerns regarding the focus on his net worth, frequently noting that his wealth is tied almost entirely to his ownership stakes in his companies rather than liquid cash.

Addressing supporters and employees during the bell-ringing ceremony, Musk reiterated the firm's core mission: "Today, we make history again... SpaceX is all about taking the fiction out of science fiction."