Elon Musk Hits $1.1 Trillion Net Worth as SpaceX IPO Soars 19%, June 13

SpaceX began trading on Nasdaq on June 12 under the ticker SPCX, marking the largest initial public offering in history. The stock opened at $150 and closed at $160.95, up 19.2% from the $135 IPO price. Forbes declared Elon Musk the world’s first trillionaire with a net worth of $1.1 trillion, driven by his 38% stake in SpaceX worth $715 billion plus $50 billion in stock options.

Record-Breaking IPO Reshapes Wealth Rankings

SpaceX raised $75 billion, surpassing Saudi Aramco’s 2019 IPO of $26 billion as the largest ever. The company priced 555.6 million shares at $135 each on Thursday, valuing SpaceX at $1.77 trillion. On Friday, shares jumped to $160.95, pushing the company’s market cap to $2.11 trillion and generating $500 million in fees for investment banks including Goldman Sachs and Morgan Stanley, each taking $100 million. Musk’s net worth rose $188 billion from Thursday evening to Friday morning as the stock surged.

What Musk’s Trillionaire Status Means for Investors

Musk’s wealth is heavily concentrated in two companies: Tesla and SpaceX. Tesla shares rose 1.8% to $406.43 on Friday, with the company’s market cap now at $1.5 trillion. Meyka rates Tesla a B with a 12-month forecast of $395.45, suggesting limited upside from current levels. With analyst consensus at a 3.0 rating (neutral), the stock faces headwinds despite Musk’s wealth surge. SpaceX’s profitability remains unproven, with accumulated losses of $41.3 billion since 2002, though the company has been cash-flow positive since 2015.

SpaceX’s Ambitious Plans Drive Investor Bets

SpaceX plans to deploy over 100,000 satellites for global communications and build artificial intelligence data centers in space. The company acquired Musk’s xAI startup in February 2026, bringing Grok AI models and the social network X into the fold. Analysts at JPMorgan Chase noted that SpaceX’s only currently profitable division is Starlink, its satellite internet service. Musk stated the IPO capital will fund a significant growth phase, though the company’s path to profitability on Mars missions and AI ventures remains uncertain.

Market Reaction and Wealth Inequality Concerns

The broader market rose modestly on Friday, with the S&P 500 up 0.5% and the Nasdaq up 0.3%. More than 500 million shares traded on SpaceX’s first day, approaching Facebook’s 2012 IPO volume. Activists protested outside Nasdaq, with Oxfam calling the IPO a dark day for global democracy given extreme wealth concentration. Musk’s $1.1 trillion fortune now exceeds the combined wealth of Larry Page, Jeff Bezos, and Mark Zuckerberg.

Final Thoughts

Musk’s trillionaire status reflects investor optimism about space exploration and AI, not near-term profits. Tesla’s B rating and neutral analyst consensus suggest his wealth is vulnerable to stock price swings, while SpaceX’s $41.3 billion in accumulated losses signal years before profitability.

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The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.