Saturday June 13, 2026
www.thenewsdesk.ng
United States’ entrepreneur, Elon Musk, has become the world’s first trillionaire after the blockbuster stock market debut of SpaceX, marking a historic milestone in global business and wealth creation.
The aerospace giant began trading on the Nasdaq on Friday, opening at $150 per share, well above its initial public offering (IPO) price of $135. Shares quickly climbed higher, pushing Musk’s estimated net worth beyond the $1 trillion mark and cementing his place as the richest person in modern history.
The SpaceX IPO, which raised $75 billion, is the largest public offering since Saudi Aramco’s record-breaking market debut in 2019. Investor enthusiasm sent the company’s valuation soaring within hours of trading, creating significant gains for early shareholders and thousands of employees.
Despite the headline-grabbing figure, financial analysts note that Musk does not have $1 trillion in cash. The vast majority of his wealth remains tied to his holdings in SpaceX and Tesla, meaning fluctuations in stock prices could significantly impact his net worth.
The public listing is expected to transform the fortunes of more than 4,000 current and former SpaceX employees, many of whom received company shares as part of their compensation packages. Analysts estimate hundreds of workers could now hold stakes worth more than $100 million, while thousands have become millionaires overnight.
The company’s market debut also appeared to reshape investment flows across the technology sector. Market analysts reported signs that investors were selling shares in major technology companies, including Tesla, Amazon, Apple and Microsoft, to increase exposure to SpaceX.
SpaceX has grown from a private rocket startup into one of the world’s most influential technology companies. Its operations now span commercial rocket launches, the Starlink satellite internet network, defence communications through Starshield, and artificial intelligence ventures.
The company’s long-term ambitions remain even more expansive. Musk has repeatedly outlined plans to establish lunar bases and eventually send humans to Mars. However, many space industry experts argue that those goals remain years away, noting that the company’s Starship rocket is still undergoing extensive testing.
The milestone has also reignited political debate in the United States over wealth inequality. Democratic Senator Elizabeth Warren renewed calls for a wealth tax, while Senator Bernie Sanders urged reforms to the Social Security tax system, citing Musk’s unprecedented fortune.
*Platinum POST
Elon Musk Becomes World’s First Trillionaire
