Elon Musk becomes world’s first trillionaire as SpaceX surges in blockbuster IPO debut

Shares in Elon Musks SpaceX jumped as much as 30 percent on their trading debut Friday after the biggest IPO in history making the polarizing entrepreneur the worlds first trillionaire as he vowed to take humanity to MarsThe blockbuster initial public offering which raised more than USD 75 billion is expected to kick off a series of major IPOs by AI companies in the coming monthsThe debut on the Nasdaq exchange in New York capped weeks of investor frenzy over the rocket company turned AI and satellite conglomerateSpaceX wants to be able to take you to the Moon take you to Mars and ultimately beyond Musk said at a launch event in Starbase Texas surrounded by staff many of whom became multimillionaires with the launch of tradingIm confident at this point that with the incredible team that we have here at SpaceX that we will do that for you Musk addedAbout 100 people assembled outside the Nasdaqs home in New York where SpaceX also marked the occasion with a neon sign in Times SquareMusk sets very futuristic goals that no one else is doing and I think that has got a lot of people excited said Sarin Sio of financial company Dovetail who had come to the Nasdaq headquartersThe company priced more than 555 million shares at USD 135 each in a Thursday filing with the US markets regulator valuing SpaceX at just under USD 18 trillionIn its first hours of trading on Wall Street the price hit as much USD 175 up more than 30 percentFridays gain lifted SpaceXs market value to more than USD 2 trillion placing it among the 10 most valuable American companies ahead of Tesla Facebookowner Meta and WalmartOptions for nearly 83 million additional shares could push the total raised above USD 86 billionCofounded by Musk in 2002 the rocket startup has since expanded into a major satellite operator and has also folded in Musks artificial intelligence company xAI which includes the social media platform XTrading under the ticker symbol SPCX the conglomerate is being closely watched for how Wall Street absorbs the offering and what it will mean for its AI rivals looking to trade on the public markets as early as this yearOpenAI and Anthropic both recently filing initial documents with regulatorsFridays IPO comes just over a year after Musk left President Donald Trumps administration following a monthslong stint leading the highly contentious DOGE effort to slash government spending while simultaneously juggling his CEO roles at Tesla and SpaceXMusks backing of Trump and rightwing populists in Europe and a long list of incendiary comments on X has seen the entrepreneur go from a broadly admired prodigy to a deeply polarizing figureThe record IPO is nonetheless a testament to Musks continued support among investors with Bloomberg reporting that the offering was more than four times oversubscribedDemand among retail investors for whom 20 percent of shares were reserved was also reported to be highNew millionairesThe IPO is expected to mint thousands of new millionaires and several billionaires with former and current employees and a long list of investors from the companys near quartercentury history looking to cash inThe valuation largely depends on Musk delivering on promises worthy of science fiction including putting data centers in space and humans on Mars using asyet unproven technologyA lot also hangs on a huge expansion of SpaceXs Starlink satellite internet service as well as the success of xAI the maker of the Grok chatbot and Musks rival to OpenAI and Anthropic that has yet to gain tractionIn an effort to shore up its books SpaceX is renting out its AI computing capacity to Anthropic and Google through shortterm deals worth billions of dollarsWhile SpaceX is growing quickly revenue hit USD 187 billion in 2025 it is also losing money producing a net loss of USD 49 billion mainly on spending to build AI capacityIn an extraordinary prediction SpaceXs filing claims it can pull in more than USD 285 trillion in revenue from its various marketsThe milestone makes Musk by far the worlds richest person an achievement that earned criticism from some quartersThe world will get its first trillionaire while Americans across the country are scraping together every dollar to save for retirement said Democratic Senator Elizabeth WarrenThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever