SpaceX IPO Catapults Elon Musk Past $1 Trillion Paper Wealth Mark

SpaceX completed the largest initial public offering in stock market history, a move that pushed founder and CEO Elon Musk to become the first person whose estimated paper wealth exceeds $1 trillion. The company will begin trading on Nasdaq under the ticker SPCX.

The IPO price was set at $135 a share, and the offering raised about $75 billion. That gives SpaceX an official market value of about $1.77 trillion, or $1.8 trillion on a fully diluted basis that includes employee options and restricted shares. The deal surpassed the previous fundraising record set by Saudi Aramco in 2019.

According to SpaceX filings with the U.S. Securities and Exchange Commission, Musk owns a stake that gives him about 84.4% of the voting power in the company. At the IPO price, his SpaceX holdings alone are valued at roughly $866 billion.

Adding his stake in Tesla, worth close to $286 billion based on a Tesla share price of about $399, plus holdings in other companies including X, formerly Twitter, and xAI, lifts his total paper fortune to an estimated $1.1 trillion to $1.2 trillion. Market analysts stressed that this is only a theoretical valuation because it depends on volatile public share prices, and some of Musk’s SpaceX stake is tied to future long-term company targets.