The first person in the world… Elon Musk’s wealth exceeds one trillion dollars
The first person in the world… Elon Musk’s wealth exceeds one trillion dollars
2026-06-12
Shafaq News – Washington
SpaceX, the space technology company owned by American businessman Elon Musk, announced on Friday that it had launched its shares on the global market at an initial price of $135 per share, raising approximately $75 billion.
SpaceX said it sold about 555.6 million shares at the offering price, giving the company a market value of about $1.77 trillion.
This valuation would make Musk the first person whose net worth exceeds $1 trillion, based on the value of his stakes in SpaceX and electric car manufacturer Tesla.
SpaceX’s financial results contrast sharply with its market value, highlighting investors’ expectations for future growth, as the company reported a net loss of nearly $5 billion last year on revenues of $18.67 billion.
Much of the spending has been directed toward developing the company’s giant Starship rocket, and SpaceX’s main source of revenue is its Starlink satellite internet business. The company has also promoted artificial intelligence and space-based data infrastructure as future growth opportunities.
Musk will retain control of SpaceX after the listing through shares that carry enhanced voting rights, leaving him with more than 80% of the voting power.
Unlike most initial public offerings, SpaceX set its own offering price in advance, whereas companies typically market shares within a price range and determine the final price based on investor demand.
shafaq.com
