Elon Musk becomes world's first trillionaire as SpaceX soars in stock market debut

Elon Musk becomes world's first trillionaire as SpaceX soars in stock market debut 9 minutes ago Share Save Add as preferred on Google Archie Mitchell , Business reporter and Kali Hays , Technology reporter Reuters Elon Musk on Friday became the world's first trillionaire after shares in his SpaceX rocket company soared during the biggest-ever stock market debut. The Tesla and SpaceX founder comfortably cemented his status as the world's richest man, with his total net worth standing at just over $1tn (£750bn). It came as his artificial intelligence (AI) and reusable rocket company listed on the Nasdaq stock exchange in New York with a value of $2.2tn. The company said its shares would be offered at $135 each, but trading opened at $150 and briefly reached $176.50 in a sign of the enthusiasm over space, AI and companies associated with Musk. SpaceX shares closed on Friday at $160.95. The initial public offering (IPO) raised $75bn from investors that will be used to fund SpaceX's investments in AI and reusable rocket technology. Musk's 42% ownership stake in the company ended the day worth around $884bn, with his 12% stake in Tesla worth another $183bn. Musk's status as the world's first trillionaire immediately sparked debate about wealth inequality. The stock market listing leaves him with a net worth similar to the entire economic output of Poland or Switzerland. Left wing US senators Bernie Sanders and Elizabeth Warren were among a slew of politicians to condemn the milestone. Warren said it should be a "wake up call" and argued it underlines the need for wealth taxes. Musk is a trillionaire on paper, meaning his net worth is tied to the value of his stocks and other investments rather than cash on hand, and he is unable to sell any of his SpaceX stock for at least a year. But Musk is not the only winner from Friday's sale. SpaceX's IPO is expected to have made millionaires of more than 4,400 of its current and former staff, who are offered stock in the company with their salary and benefits. The listing also came with renewed scrutiny of Musk's recent forays into politics, which have seen him increasingly criticise the governments of the UK, US and other countries over topics such as immigration. He has repeatedly clashed with UK Prime Minister Sir Keir Starmer, including over the murder of 18-year-old British student Henry Nowak. While heading US President Donald Trump's Department for Government Efficiency (Doge), Musk was responsible for the closure of the US Agency for International Development (USAID). The cuts could cause more than 14 million additional deaths by 2030, according to a warning published by researchers in the Lancet medical journal. SpaceX's valuation is largely based on optimism about its potential future earnings, as opposed to financial results it has demonstrated so far. The company lost more than $9bn in 2025 and 2026 so far, according to its financial filings, due to its huge spending on AI and other infrastructure i