NEW YORK — Powered by the strength of SpaceX’s initial public offering, Elon Musk rocketed into the financial stratosphere on Friday, as the world’s richest man became the world’s first trillionaire.
SpaceX’s stock rose on its first day of trading, making the value of the company approximately $2 trillion, The New York Times reported.
Breaking News: Elon Musk became the world’s first trillionaire as SpaceX shares soared above $150 on its first day of trading. https://t.co/bq5ARi7rgB
— The New York Times (@nytimes) June 12, 2026
Musk was expected to become a trillionaire if SpaceX stock increased substantially from its IPO price of $135, The Washington Post reported. Just before 11:50 a.m. ET on Friday, SpaceX’s shares opened at $150, an 11% increase from the IPO price, according to the newspaper.
“Liftoff! First … trade complete,” SpaceX said in a post on X at 11:47 a.m. ET, marking the moment with a rocket emoji.
Liftoff! First $SPCX trade complete 🚀
— SpaceX (@SpaceX) June 12, 2026
Musk’s net worth also includes the value of his stock in Tesla, the electric carmaker, the Times reported. He also owns Neuralink, a brain implant company; and the Boring Company, a tunneling firm. He also owns the social media platform X, formerly known as Twitter.
Musk, 54, founded SpaceX in 2002, the Times reported. He has been a pioneer in the space industry by creating rockets that are partially reusable, and by inventing Starlink, a satellite internet provider.
With its $2.2 trillion value, SpaceX is now the sixth most valuable company listed in the United States, The Wall Street Journal reported.
Musk’s stake in SpaceX was valued at approximately $690 billion when factoring in the IPO price, the newspaper reported. His share in Tesla is worth about $279 million of his net worth.
SpaceX President Gwynne Shotwell was on-site for the opening of the market at Nasdaq’s bell-ringing in New York, the Times reported.
Earlier Friday, Musk issued remarks from the site of SpaceX’s headquarters at Starbase, Texas.
“It is certainly hard to believe that a little company that started in a warehouse in El Segundo (California) is now going public with the largest IPO ever,” Musk said. “If people had told me this was going to happen, I was like, ‘Man, you must be smoking some really good crack because I think this company’s going to fail.’”
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