SpaceX listing elevates Musk to paper trillionaire in $75 billion debut

SpaceX has completed its transition from a private entity to a publicly traded company, raising $75 billion in an initial public offering that valued the firm at approximately $1.77 trillion. The listing, which opened trading on the Nasdaq on 11 June 2026, has positioned CEO Elon Musk as the world’s first paper trillionaire, a status derived from the market valuation of his holdings rather than liquid cash.

The offering was priced at $135 per share. In early trading, the stock surged 27 per cent to $172, reflecting strong investor appetite. According to the Financial Times, the event serves as a demonstration of Musk’s dominance, converting his unrivalled grip on the public imagination into significant financial value on Wall Street.

While the company is now subject to rigorous public disclosure requirements, Musk retains complete autonomy over the business through his ownership and voting rights. The transition marks a significant shift for the aerospace giant, which will now operate under the scrutiny of public markets while maintaining its strategic direction under its founder.

The SpaceX debut coincided with broader market movements, including modest gains in US equity markets. Oil prices also dropped, a decline partly attributed to hopes for an interim peace deal between the United States and Iran. Iran is currently grappling with hyperinflation and military uncertainty, factors that have influenced market sentiment regarding regional stability.

The listing follows a period of high-profile engagement for Musk, who attended the recent Beijing summit alongside other US business leaders, including Tim Cook and Jensen Huang. The summit marked the first visit by an American president to China since 2017, featuring discussions on trade, artificial intelligence, and security in the Strait of Hormuz.