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Fri, 12 Jun 2026

Fri, 12 Jun 2026 Elon Musk becomes world's first trillionaire as SpaceX soars in stock market debut

Musk is now worth $1.11tn according to the Bloomberg rich list, while SpaceX listed on the Nasdaq stock exchange with a value of $2.2tn.
Elon Musk has become the world's first trillionaire after shares in his SpaceX rocket company surged on its stock market debut, valuing the company at $2.2tn and adding to Musk's net worth which now stands at $1.11tn (£828bn). The billionaire's 42% ownership stake in SpaceX gives him significant control over the company, and he will be able to use the funds raised from the IPO as he sees fit. Critics have pointed out that Musk's wealth is now equivalent to the entire economic output of Poland or Switzerland, sparking debate about wealth inequality. Despite this, investors are bullish on the company's potential for future growth, particularly in the areas of space exploration and AI research. However, experts have warned that the valuation of SpaceX is largely based on optimism and projections, rather than current financial results. The company has not yet turned a profit, losing over $9bn in 2025 and 2026 so far due to significant investments in infrastructure and research.