Elon Musk has become the world's first trillionaire on paper after SpaceX priced its highly anticipated initial public offering at $135 per share, according to CBS News.
The report said Musk's net worth was estimated at roughly $813 billion before the IPO. The new SpaceX valuation lifted his fortune to just over $1 trillion, cementing his position as the world's richest individual. Shares of the company are set to trade under the ticker symbol "SPCX" on the Nasdaq.
According to the company's IPO filing, Musk owns about 42% of SpaceX, representing 4.8 billion shares, along with hundreds of millions of stock options. The IPO significantly increased the value of those holdings.
The listing is also expected to create substantial wealth for employees and investors. The New York Times reported that around 4,400 SpaceX workers could become millionaires following the public offering.
The milestone has reignited debate over wealth concentration. Oxfam said Musk's fortune now exceeds the combined wealth of billions of people worldwide, describing the development as a symbol of growing economic inequality.
Related Tweet:
Elon Musk becomes the world’s first trillionaire on paper after SpaceX’s record IPO values the company at $1.77 trillion, pushing his combined Tesla and SpaceX stakes past $1 trillionhttps://t.co/agy51wZiF0
— TRT World (@trtworld) June 12, 2026
Also Read:
Power & Capital Desk
