Elon Musk has become the world’s first trillionaire after SpaceX’s IPO in New York sent its valuation past $2 trillion. Shares jumped as much as 30% on debut and closed nearly 20% higher, putting SpaceX among the 10 most valuable U.S. companies, ahead of Tesla, Meta, and Walmart.
The IPO raised over $75 billion, with options that could push the total above $86 billion. Demand was strong, oversubscribed more than four times, with 20% of shares reserved for retail investors.
Musk’s employees and early backers also saw their fortunes rise, with many instantly becoming millionaires and billionaires.
Founded in 2002, SpaceX has grown into a satellite and AI powerhouse. It now integrates Musk’s xAI and his social platform X, while pushing projects like Starlink expansion, space‑based data centers, and human missions to Mars.
Despite earning $18.7 billion in revenue last year, SpaceX posted a $4.9 billion net loss due to heavy AI spending.
Also Read: Globe to roll out Starlink data promos in PH, starts at ₱99
The bigger question is whether Musk’s trillion‑dollar leap will truly bring humanity closer to the Moon and Mars, or remain a Wall Street spectacle.
