SpaceX IPO Soars to $175, Musk Becomes World’s First Trillionaire

SpaceX began trading on the Nasdaq under ticker SPCX on June 12 after raising $75 billion in the largest initial public offering in history. The company priced 555.6 million shares at $135 each, valuing it at $1.77 trillion. Early indications showed shares opening around $175, a 30% jump that would push the valuation to $2.29 trillion and make founder Elon Musk the world’s first trillionaire.

Record-Breaking Debut Exceeds Expectations

SpaceX’s opening price indication of $175 per share represented a 30% surge from the $135 IPO price. This would value the company at $2.29 trillion, making it the seventh most-valuable U.S. company ahead of Tesla. The $75 billion fundraise shattered the previous record held by Alibaba’s $22 billion IPO in 2014. Elon Musk and SpaceX President Gwynne Shotwell rang the opening bell on June 12, with Musk in Texas and Shotwell at the Nasdaq in New York.

Musk Poised to Reach Trillionaire Status

Elon Musk holds a 38% stake in SpaceX worth $688 billion at the IPO price. With shares indicated to open at $175, his combined wealth from SpaceX and Tesla would exceed $1 trillion, making him the world’s first trillionaire. Forbes estimates his total net worth at $982 billion based on the IPO price. Other executives also stand to gain significantly. SpaceX President Gwynne Shotwell’s stake could increase from $1.2 billion to $1.6 billion, while CFO Bret Johnson could become a billionaire.

Capital Raised for Ambitious Expansion Plans

Musk said SpaceX has been cash-flow positive since 2015 and is raising capital for a “significant growth phase.” The company plans to deploy over 100,000 satellites in orbit for communications and build artificial intelligence data centers in space. SpaceX acquired Musk’s xAI startup in February 2026, bringing AI models, data centers, and the social network X into the fold. Despite its growth plans, SpaceX has accumulated a $41.3 billion deficit since its 2002 founding.

Starlink Drives Profitability as Only Profitable Division

Starlink, SpaceX’s satellite internet service, is currently the only profitable part of the business. The division generated over 61% of SpaceX’s 2025 revenue with 12 million active users worldwide. Starlink operates a constellation of more than 10,000 satellites in low-Earth orbit, more than any other institution, company, or country. The service uses phased array antennas priced at $500 or less to maintain stable connections with minimal latency.

Final Thoughts

SpaceX’s $75 billion IPO marks a historic moment for both the space industry and wealth concentration. With shares indicated to open at $175, the company’s valuation reaches $2.29 trillion while Musk becomes the world’s first trillionaire.

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