SpaceX Market Debut: Share Prices Soar, Musk Becomes First Trillionaire

SpaceX’s share price experienced another surge on Monday, continuing its upward momentum from Friday’s record-breaking initial public offering (IPO). The company saw its shares rise by approximately 6 percent during early trading on Monday. Last Friday, during SpaceX’s market debut, its shares had already increased by nearly 20 percent.

This latest gain has elevated Elon Musk, 54, to the status of the world’s first trillionaire. It also eased concerns on Wall Street about whether investors would embrace SpaceX’s significant valuation. The IPO raised $75 billion, setting a record with a $1.77 trillion valuation, marking it as the largest IPO in history. It is considered a bellwether for other major tech companies such as Anthropic and OpenAI, which are preparing to go public this year with expected valuations of nearly $1 trillion.

Following the recent share price gains, SpaceX’s market value surpassed $2.2 trillion. This accomplishment also positioned SpaceX’s IPO ahead of the previous record set by Saudi Aramco, the state-owned oil company of Saudi Arabia, which raised more than $29 billion when it went public in 2019.

Musk and SpaceX have revolutionized the space industry through innovations like partially reusable rockets and the satellite internet service, Starlink. In February, SpaceX acquired Musk’s artificial intelligence company, xAI, which also owned the social media platform X. This strategic merger aimed to consolidate Musk’s business ventures and provided financial support to xAI, which had been investing heavily to compete with its rivals.

SpaceX holds contracts with NASA and other government agencies, making it an influential player in the aerospace market. Founded in 2002, the company had long maintained financial secrecy, sometimes serving as a financial reservoir for Musk. However, ahead of its public market debut, SpaceX for the first time disclosed comprehensive financial information, revealing a loss of over $4.9 billion last year. This was in contrast to a $791 million profit in 2024, attributed to increased spending on artificial intelligence. Despite the losses, revenue grew by 33 percent to $18.7 billion last year.