Elon Musk makes history as world’s first trillionaire

The world's richest man, Elon Musk, has become the world's first trillionaire on paper after his initial public offering (IPO) on the largest stock exchange, Nasdaq. This listing is the first in SpaceX's history. The Anadolu news agency reported this information in a report on Friday (June 12).

It said that SpaceX raised about $75 billion by selling 555.6 million Class-A shares at $135 per share, which is considered the largest IPO in history. As a result of this pricing, the company's market value stands at about $1.77 trillion.

It is expected that SpaceX will become one of the most valuable listed companies in the world when trading starts on Nasdaq under the symbol 'SPCX'. According to IPO-related documents, Musk will have about 849.5 million Class-A shares and 5.57 billion Class-B shares after the listing. Through this, he will control 84.4 percent of the company's total voting power.

At the IPO price, Musk's SpaceX shares are worth about $866.5 billion. In addition, he has about 717.1 million shares in Tesla. Based on Tesla's current share price of $399.15, this partnership is worth about $286.2 billion.

As a result, the paper value of Musk's total assets in SpaceX and Tesla has reached about $1.1 trillion. However, the calculation of this wealth is largely theoretical. It is mainly dependent on the market value of SpaceX and Tesla's share price. It also includes some performance-based stock awards of SpaceX.

These goals include meeting specific goals related to the company's market value, establishing a permanent human settlement of at least one million people on Mars, and building a large-scale IT infrastructure beyond Earth. Excluding these conditional shares, Musk's assets value would be below a trillion dollars.

On the other hand, despite rapid revenue growth, SpaceX is still a loss-making company. The company's revenue in 2025 reached $18.7 billion, up from $14 billion in 2024. However, the company's net loss increased to $4.9 billion during the same period, compared to a profit of $791 million the previous year.

Founded by Elon Musk in 2002, SpaceX initially started as a space launch service provider, but it is now working on long-term projects such as space technology, satellite-based internet, artificial intelligence and human settlement on Mars. The IPO broke the record of Saudi Aramco in 2019 and became the largest stock market listing in history.

Even before SpaceX's listing, Elon Musk was known as the richest person in the world. However, this new IPO has taken the paper value of his assets to a level where no one has reached the list of global assets before.

Source: Anadolu