SpaceX IPO Makes Musk World's First Trillionaire

What happened with the SpaceX IPO on June 12, 2026?

SpaceX priced its IPO at $135 a share on Thursday night, June 12, 2026, and began trading on the Nasdaq the following morning under the ticker SPCX. The stock opened at $150 — already 11% above the IPO price — then climbed further, trading above $172 in midday trading, according to Yahoo Finance.

SpaceX raised $7.5 billion in the offering, Reuters reported. The debut was described as the largest IPO ever.

How big is SpaceX's market cap after its debut?

With shares trading above $172, SpaceX's market cap crossed $2.274 trillion, according to MarketWatch. That figure puts SpaceX past TSMC and ranks it as the sixth-largest company in the world by market value.

The stock was up more than 20% from its IPO price on its first day of trading.

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How did the SpaceX IPO make Elon Musk a trillionaire?

Here's what we know so far from the numbers reported across multiple outlets:

Musk holds roughly 42% of SpaceX's equity through a dual-class share structure. That structure also gives him about 82% of voting control via Class B stock, Yahoo Finance reported.

His Tesla position — 717.1 million shares per an April ownership filing — was worth roughly $278 billion at Tesla's price of about $388 per share.

Add the two together and Musk's stakes in SpaceX and Tesla alone total about $1.147 trillion. That does not include his stakes in Neuralink, the Boring Company, or other assets.

MarketWatch calculated that Musk's net worth was $971 billion as of June 11, per the Bloomberg Billionaires Index. The SpaceX IPO added roughly $238.45 billion to that figure in a single day.

What is SpaceX's business model?

SpaceX is a rocket and satellite technology company that also merged with Elon Musk's AI company, xAI. Its primary revenue driver is Starlink, a satellite internet service that now serves millions of paying subscribers globally and generates the majority of the company's revenue.

SpaceX continues to post annual losses. The company is investing heavily in Starship, its next-generation heavy-lift rocket. Capital expenditures have surged over the past year as xAI spends on data centers including Colossus and Colossus II.

Who else was affected on the first day of trading?

• Retail investors celebrated the stock pop on its first day, with Robinhood reporting "record breaking" traffic from SpaceX-related activity — and experiencing outages as a result.
• Tesla stock fell as SpaceX trading kicked off on Friday morning.
• Index inclusion: SpaceX is set to receive "fast entry" into major indexes, though the S&P 500 is sitting this one out, per MarketWatch.
• Governance concerns: Analysts flagged the dual-class share structure and cash burn as risks, though investors appeared to look past them on day one.

What does SpaceX's future depend on?

Analysts cited by MarketWatch said SpaceX's entire future depends on Starship, its massive next-generation rocket. The company's long-term vision — including Starlink expansion and xAI data center investment — is what investors are betting on, not near-term profitability.

One venture capital partner quoted by MarketWatch said SpaceX's lack of profitability "doesn't matter right now" because it is "a long-term vision play."

SpaceX's market cap of $2.274 trillion is the confirmed figure as of midday June 12, 2026, making it the sixth-largest company in the world.