Elon Musk made history on the global business scene, as the total value of his personal fortune surpassed the $1 trillion milestone for the first time, making him the first person to reach this level of wealth.
SpaceX played a decisive role in the surge of his wealth, which, shortly before its IPO on the U.S. stock market, raised $75 billion in new capital. The company’s initial public offering attracted enormous investor interest, setting the stage for a particularly strong stock market debut.
At the opening of the session, SpaceX shares rose 11%, starting at $150, significantly higher than the offering price of $135. The market reaction pushed the company’s valuation close to $2 trillion, a figure that exceeds the combined value of well-known American business giants such as Walmart and General Motors.
The stock’s positive performance was enough to keep Musk above the historic threshold of $1 trillion in net worth. According to analysts’ estimates, maintaining the stock price above $138 is considered critical for it to remain at this level.
The success of the IPO is expected to serve as a benchmark for other rapidly growing companies, particularly in the field of artificial intelligence, that are considering entering the capital markets. At the same time, the public offering is expected to transform the financial lives of thousands of employees and former executives of the company, with more than 4,000 becoming millionaires.
The listing process was characterized by unprecedented speed. Contrary to standard practice, where investors are informed of the final allocation of shares shortly before trading begins, several large investment funds had already received relevant information in the early morning hours.
The speed at which trading in the stock began was similarly rapid. While companies of comparable size typically appear on the board later in the day, SpaceX made its debut before noon, significantly accelerating the projected timeline.
Its trajectory is reminiscent of the early days of the major tech conglomerates that make up the so-called “Magnificent 7.” In the past, all companies in this group—Apple, Alphabet, Amazon, Meta, Microsoft, Tesla, and Nvidia—closed higher on their first day of trading. The most subdued performance belonged to Meta in 2012, while Nvidia recorded one of the most impressive stock market debuts of the modern era, rising more than 60% on its first trading day.
Interest in this historic moment was not limited to investment circles. Thousands of people gathered in New York’s Times Square to watch the stock’s performance in real time on the area’s giant screens. Among them were early supporters of Musk’s business venture, who, despite their reluctance to speak publicly, saw the value of their investments rise spectacularly in just a single day.
