SpaceX IPO Could Make Elon Musk World's First Trillionaire
SpaceX completed the largest IPO in history on Thursday, raising $75 billion at $135 per share, with shares climbing nearly 20 percent to around $161 by Friday's close, pushing the company's market cap above $2 trillion. The offering boosted Musk's estimated net worth to approximately $982.6 billion, placing him on the threshold of becoming the world's first trillionaire. The milestone would mark an unprecedented concentration of individual wealth, surpassing the annual economic output of most countries.
SpaceX priced its initial public offering at $135 per share, selling 555.6 million shares to institutional and retail investors and raising $75 billion — easily surpassing Saudi Aramco's 2019 record of $26 billion. By Friday's market close, SpaceX shares had gained nearly 20 percent to approximately $161, lifting the company's valuation above $2 trillion. Forbes estimated Musk's net worth at $982.6 billion ahead of the first trade, with his SpaceX holdings — including more than 4.8 billion shares and stock options — accounting for roughly $688 billion of that figure, while his 12 percent Tesla stake contributes approximately $165 billion. Musk stated the company went public to fund ambitions including satellite deployment, orbital data centers, and an eventual Mars colony, though SpaceX reported losses of $8.7 billion between early 2025 and March 2026. Nasdaq revised its index inclusion rules to allow SpaceX to enter relevant funds within 15 days, accelerating retail investor exposure. Not all stakeholders welcomed the listing: pension fund officials in California and New York raised concerns over super-voting shares, mandatory arbitration clauses, and Musk's concentrated control. Musk's path to trillionaire status could be confirmed if SpaceX shares hold near current levels or Tesla's stock rises modestly from $399 to $424 per share.
What's missing
Neither source details the specific governance structure of SpaceX's super-voting shares or the precise ratio of voting power Musk retains post-IPO, which is central to the shareholder concerns raised.
How coverage differed
The Independent framed the story with heavier emphasis on Musk's political controversies, his split with Trump, Tesla boycotts, and wealth inequality concerns, while Global News Canada focused more neutrally on the financial mechanics of the IPO, investor sentiment, and SpaceX's business ambitions.
What different sources said
- Global News CanadaCenter
SpaceX IPO launch could pave Elon Musk’s path to trillionaire status
- The IndependentLeft
Where does Elon Musk’s phenomenal wealth come from?
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