SpaceX stock opened at $150 a share on Friday, pushing Musk's net worth past $1 trillion for the first time in history
Allison Robbert / AFP via Getty Images
Friday marked a historic threshold for Elon Musk, who crossed into trillionaire territory as SpaceX shares debuted on the Nasdaq $NDAQ at $150 apiece — an 11% premium over the $135 IPO price. Combined holdings across SpaceX, Tesla $TSLA, and other ventures pushed his total net worth to roughly $1.1 trillion, according to the Associated Press.
By around midday, the stock had climbed to $166.90, placing SpaceX's total market capitalization at $2.18 trillion. Forbes estimated Musk's net worth at $1.1 trillion.
At $135 per share, buyers snapped up 555.6 million shares, generating $75 billion in proceeds — a new all-time record for an IPO that surpassed Saudi Aramco's 2019 offering. SpaceX is trading on the Nasdaq under the ticker symbol SPCX.
To kick off the debut, Musk participated in a ceremonial bell-ringing at Starbase, SpaceX's South Texas launch facility. "Not just a few astronauts, I mean literally you," Musk said. "Whoever you are watching this, SpaceX wants to be able to take you to the moon, take you to Mars and ultimately beyond."
For scale, his fortune outstrips the combined wealth of the five next-richest people on earth and eclipses the entire economic output of countries such as Taiwan, Ireland, and Sweden, according to CNBC. Tesla stock was down about 1% midday Friday at roughly $395 a share.
The offering also transformed a large number of SpaceX employees and executives into millionaires — and a handful into billionaires — given the stock stakes they hold. Not all investors welcomed the offering's terms. Before the listing, pension fund administrators representing California and New York public workers — including firefighters and teachers — wrote to SpaceX to raise objections over governance terms such as dual-class voting rights, restrictions on shareholder litigation, and the degree of control concentrated in Musk's hands.
Research firm Morningstar put the company's fair value at $780 billion — well below the IPO valuation — citing the immaturity of SpaceX's core technologies and its substantial ongoing cash requirements, and calling the offering price "significantly overvalued."
Financial filings show the company burned through $8.7 billion over the fifteen months ending March 31, 2026. Musk has said the company is going public to fund ambitions that include placing satellites and data centers in orbit and eventually establishing a human colony on Mars.
As Quartz reported when SpaceX filed IPO terms, the company posted revenue of $18.67 billion in 2025, a 33% increase from the prior year, while swinging to a net loss of $4.94 billion from a profit of $791 million. SpaceX broke with standard IPO practice by declaring a fixed price of $135 rather than a preliminary range. Musk controls approximately 82.4% of voting power after the offering, and his shares are subject to a 366-day lockup, the company said in its filing.
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