June 12 (THEWILL) — Elon Musk has become the first person in history to achieve a paper net worth exceeding $1 trillion following the blockbuster initial public offering of SpaceX, which has propelled the aerospace company into the ranks of the world’s most valuable corporations.
SpaceX priced its shares at $135 each in a listing that raised approximately $75 billion and valued the company at about $1.77 trillion. The valuation not only cements SpaceX’s position as a dominant force in the global space industry but also surpasses the record previously set by Saudi Aramco’s 2019 public offering, making it the largest IPO on record.
According to the company’s prospectus, Musk will control approximately 849.5 million Class A shares and 5.57 billion Class B shares following the offering. The shareholding gives him about 84.4 percent voting control in the company and values his SpaceX stake at roughly $866.5 billion at the IPO price.
The SpaceX valuation significantly boosts Musk’s overall fortune when combined with his holdings in electric vehicle maker Tesla. Based on recent market prices, Musk’s estimated 717.1 million Tesla shares are worth approximately $286.2 billion.
Together, the combined value of his stakes in both companies places his net worth at around $1.1 trillion on paper, making him the first individual to cross the trillion-dollar threshold.
However, analysts note that the milestone remains largely theoretical and subject to market fluctuations. The valuation depends on SpaceX maintaining its post-listing market value and Tesla sustaining its current share price performance. A portion of Musk’s estimated wealth also includes performance-based stock awards linked to long-term targets such as establishing a permanent human settlement on Mars and developing advanced space-based computing infrastructure.
Despite its soaring valuation, SpaceX has yet to achieve profitability. The company reported revenue of $18.7 billion in 2025, representing a significant increase from $14 billion recorded a year earlier. However, it also posted a net loss of $4.9 billion during the period as it continued to invest heavily in rocket development, satellite technology, and deep-space exploration projects.
The listing nevertheless underscores growing investor confidence in the commercial space industry and highlights the scale of wealth creation that can result from disruptive technology ventures. For Musk, it marks another milestone in a career that has reshaped industries ranging from electric vehicles and renewable energy to aerospace and satellite communications.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
