Elon Musk's a trillionaire - on paper - as SpaceX IPO takes off
Key takeaways
- The company priced 555.6 million of its shares at $135 apiece, making it the largest initial public offering (IPO) in history.
- SpaceX chief executive Elon Musk, already the richest man in the world, became even richer.
- If you re looking for a quick profit, SpaceX may not be for you, advisers said.
Elon Musk's a trillionaire - on paper - as Space X IPO takes off Medora Lee, USA TODAY Sat, June 13, 2026 at 12:39 AM GMT+7 2 min read SPCX The first ever trillionaire and more than 4,000 new millionaires were minted after Space X s historic debut on the Nasdaq exchange on June 12.
The company priced 555.6 million of its shares at $135 apiece, making it the largest initial public offering (IPO) in history. As investors lined up to buy shares under ticker symbol SPCX, the stock price shot up and shares opened trading at $150 each. Shares rallied further, last up 26.48% at $170.75 at 1:36 pm ET.
SpaceX chief executive Elon Musk, already the richest man in the world, became even richer. With the surge in SpaceX shares, Musk became the first-ever trillionaire, on paper. Along for the ride are about 4,400 current and former SpaceX employees who held company stock or options before the IPO, according to the New York Times, citing an analysis by Hill.com, a San Francisco-based investment platform. Of those, about 400 are expected to earn $100 million or more.