Elon Musk's space company SpaceX was listed on the United States technology index Nasdaq on Friday, raising a record $75 billion through its IPO. With this debut, Musk has emerged as the world's first trillionaire. According to figures from the Bloomberg Billionaires Index, his total net worth crossed roughly the $1,000 billion mark the moment the company hit the market. In the last 24 hours alone it grew by $274 billion, while since the beginning of this year his fortune has climbed by $351 billion.
The aerospace and satellite company SpaceX, led by Musk, had fixed its IPO share price at $135 per share, which pushed its valuation to nearly $1.77 trillion. It is being described as the largest IPO in history. The company is trading in the market under the ticker symbol 'SPCX'. Regulatory filings show that Musk holds 849.49 million Class A shares and 5.57 billion Class B shares, which together add up to roughly 6.42 billion shares.
A Major Shift in the Global Space Industry
Owing to SpaceX's dual-class share structure, about 85 percent of the company's total voting power rests solely with Musk. This is because each Class B share carries the right to ten votes, whereas each Class A share carries just one. Having begun its journey in 2002, SpaceX has transformed the picture of the global space industry by advancing reusable Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft, and the ambitious Starship programme aimed at deep-space exploration.
Rapid Expansion of the Satellite Internet Business
The company has also expanded swiftly through its satellite internet business, Starlink, which has become a key contributor to rising revenue and growing investor interest. Market experts believe this listing will prove to be a decisive turning point for the public market. Analysts are confident that this successful debut will, in the coming months, encourage other large technology and private companies to bring their own public offerings as well.
Steps Toward the Trillionaire Club
Elon Musk's name has long been linked with major shifts in fields such as technology, automobiles, space and artificial intelligence. Now SpaceX's powerful market debut has further strengthened his financial clout. If, in the years ahead, SpaceX, Starlink and his other companies continue to grow at this pace, the goal of becoming the world's first trillionaire could turn into reality for him. For now, the eyes of investors and the business world are fixed on what Musk's next big achievement will be. One thing is clear: SpaceX's listing is being seen not merely as a corporate event, but as the dawn of a new era for the global tech and space industry.
