Elon Musk has become the world’s first trillionaire following the blockbuster stock market debut of SpaceX, whose shares surged after the aerospace and artificial intelligence company began trading on the Nasdaq on Friday.
The historic milestone was achieved as investors rushed to buy shares in what has been described as the largest initial public offering (IPO) since Saudi Aramco’s market debut in 2019.
SpaceX shares opened at $150, significantly above the company’s estimated listing price of $135, before climbing as high as $176 during trading. The stock eventually closed at $160.95 per share, cementing a valuation that pushed Musk’s personal fortune beyond the $1 trillion mark.
The listing marked a remarkable moment for Musk, who founded SpaceX more than two decades ago and once admitted he gave the company less than a 10 per cent chance of survival.
Speaking from the company’s headquarters in Texas before trading commenced, Musk reflected on the journey from a small startup to one of the world’s most valuable companies.
“It is certainly hard to believe a little company that started in a warehouse in El Segundo is now going public with the largest IPO ever,” he said.
The successful flotation is expected to create more than 4,000 millionaires among current and former SpaceX employees, many of whom hold stock in the company.
Investor enthusiasm was driven not only by SpaceX’s dominance in the commercial space sector but also by growing interest in artificial intelligence-related companies. Analysts described the listing as a major test of investor appetite for high-growth AI businesses ahead of expected public offerings by other technology giants.
The company’s stock market debut attracted widespread attention in New York’s Times Square, where crowds gathered to watch the launch ceremony and the start of trading on Nasdaq.
Despite the excitement, some analysts urged caution, pointing out that SpaceX remains unprofitable and has acknowledged that profitability is not guaranteed in the future. Others warned that soaring valuations across the AI sector could raise concerns about a potential market bubble.
Nevertheless, investor demand remained strong throughout the day, helping SpaceX secure one of the most successful stock market debuts in corporate history.
The listing further strengthens Musk’s position as the world’s richest person and represents another landmark achievement for the entrepreneur whose business interests span electric vehicles, artificial intelligence, space exploration and social media.
