Elon Musk has added another milestone to his remarkable business career. SpaceX, the private space company he founded nearly 24 years ago, made history with the largest stock market debut ever, crossing a valuation of more than $2 trillion on its first day of trading and making Musk the world's first trillionaire.
The blockbuster listing marks a new chapter not only for SpaceX but also for the growing dominance of artificial intelligence and advanced technology companies in global financial markets.
Shares of SpaceX began trading on the Nasdaq at $150 each, significantly above the pre-listing price indication of $135. Investor demand remained strong throughout the day, pushing the stock as high as $176 before closing at $160.
The closing price valued SpaceX at approximately $2.1 trillion, making it one of the most valuable companies in the world.
The listing also propelled Musk's personal fortune above the $1 trillion mark. According to estimates by Forbes, his net worth rose to around $1.1 trillion, thanks largely to his controlling stake in SpaceX. He also remains the largest shareholder and chief executive of Tesla, whose market value exceeds $1 trillion.
SpaceX today is far more than a rocket-launch company.
The group includes:
Starlink satellite internet services
Artificial intelligence company xAI
Social media platform X
Space launch and spacecraft operations
The company has positioned itself at the intersection of space technology, communications and artificial intelligence, sectors that investors believe will shape the next phase of global economic growth.
Musk has long argued that developing technologies capable of supporting human life beyond Earth will require enormous amounts of capital.
The company plans to use funds raised through the IPO to expand its space exploration programmes, build next-generation spacecraft and support its long-term ambition of establishing human settlements on other planets.
Its stated mission remains making humanity a "multiplanetary species".
Despite its enormous valuation, SpaceX remains a loss-making company.
In the most recent financial year:
Revenue reached $18.7 billion
Operating loss stood at $4.3 billion
A significant portion of spending has been directed towards artificial intelligence infrastructure, including large-scale data centres supporting xAI's ambitions.
The financial profile has prompted some analysts to question whether the company's valuation is justified, particularly given its dependence on future growth rather than current profitability.
The IPO attracted exceptional interest from institutional investors.
Reports suggested demand was several times greater than the number of shares available, enabling SpaceX to raise approximately $75 billion. The company's unconventional pricing strategy — offering shares at a fixed price rather than through the usual price range — did little to dampen enthusiasm.
However, critics argue that the valuation carries risks. Musk controls roughly 85 percent of the company's voting power, giving him extraordinary influence over corporate decisions.
Some market observers also worry that millions of ordinary investors could soon gain indirect exposure to SpaceX through index funds and retirement portfolios, increasing the broader financial system's exposure to potential volatility.
The SpaceX listing is expected to be followed by other major AI-related public offerings. Industry leaders such as OpenAI and Anthropic are also preparing stock market debuts that could command valuations approaching $1 trillion.
Economists say the rapid creation of wealth through AI and advanced technology firms is reshaping global capitalism. Thousands of current and former SpaceX employees are expected to become millionaires following the listing, with some early staff members reportedly holding shares worth hundreds of millions of dollars.
For Musk, however, the biggest headline is clear: the entrepreneur who transformed electric vehicles, private spaceflight and satellite communications has now become the first person in history whose wealth exceeds $1 trillion.
