Elon Musk has become the world’s first trillionaire on paper after SpaceX priced its record-breaking initial public offering at $135 per share, according to calculations based on company filings and Tesla disclosures.
SpaceX sold 555.6 million Class A shares in the offering, raising about $75 billion and valuing the company at roughly $1.77 trillion — making it one of the most valuable publicly traded firms when it begins trading on Nasdaq under the ticker “SPCX.”
Musk’s stakes cross historic threshold
Based on the IPO pricing, Musk’s holdings in SpaceX alone are valued at about $866.5 billion, while his estimated 717.1 million Tesla shares add roughly $286 billion more, bringing his combined paper wealth to around $1.1 trillion.
The calculation assumes full value for contingent SpaceX stock awards tied to ambitious long-term targets, including Mars settlement milestones and large-scale space-based infrastructure development.
Without those performance-linked incentives, Musk would fall below the trillion-dollar threshold.
Record IPO, but still in the red
Despite its soaring valuation, SpaceX remains unprofitable. The company reported $18.7 billion in revenue in 2025, up from $14 billion a year earlier, but posted a net loss of $4.9 billion.
The listing surpasses Saudi Aramco’s 2019 IPO, previously the largest in history, marking a milestone for both SpaceX and global capital markets.
Musk, already the world’s richest individual, now sits atop unprecedented paper wealth — though the figure remains highly dependent on market performance and long-term execution of SpaceX’s ambitious plans.
