SpaceX IPO elevates Musk to first global trillionaire on paper
Bloomberg News confirms Elon Musk’s net worth has surpassed $1 trillion following the historic listing, though significant share restrictions and retained voting power complicate the milestone.
Elon Musk has become the world’s first trillionaire on paper following the initial public offering of SpaceX, with Bloomberg News confirming the milestone after the rocket company’s shares began trading on the Nasdaq. The listing, which commenced on Friday, 12 June 2026, under the ticker symbol SPCX, priced shares at $135 each, raising approximately $75 billion in capital. This valuation marks the largest initial public offering in history and places the enterprise value of SpaceX at roughly $1.77 trillion.
Musk’s net worth exceeded the $1 trillion threshold by combining his stake in SpaceX, valued at approximately $860 billion at the IPO price, with his holdings in Tesla. The tech magnate’s paper wealth increased further as SpaceX shares continued to climb during early trading on Friday. This financial ascendance occurs against a backdrop of significant political influence and public controversy, including Musk’s leadership of the Department of Government Efficiency and his involvement in the dismantling of USAID, a move the Harvard T.H. Chan School of Public Health has linked to adverse public health outcomes.
Despite the transition to a public company, Musk retains substantial control over SpaceX’s governance. He holds more than 80% of the voting rights and possesses the power to hand-select the board of directors. The company has been structured to limit legal challenges from public shareholders, ensuring that Musk’s authority remains largely unchallenged as the firm pursues what it describes as the largest addressable market in history.
A notable restriction on Musk’s liquidity involves one billion of his SpaceX shares, which cannot be sold until the company establishes a human colony on Mars. SpaceX has described this goal as “improbable,” yet Musk can borrow against these restricted shares to access cash without triggering taxable events. This mechanism allows him to leverage billions in wealth while the long-term restriction remains in place.
The milestone adds to Musk’s existing financial profile, which includes a Tesla pay package awarded last year that could be worth $1 trillion if specific operational milestones are met. His political activities, including funding Donald Trump’s presidential campaign with around $300 million in 2024, have further amplified his visibility and influence, coinciding with his new status as the world’s first trillionaire.
