SpaceX Completes Historic IPO, Making Elon Musk a Trillionaire SpaceX’s record-shattering stock market debut has simultaneously crowned Elon Musk the world’s first trillionaire and ignited a fierce debate over wealth, power, and the future direction of the company.

On June 11, SpaceX officially set the terms of its listing, confirming it had raised $75 billion by pricing 555.6 million shares at $135 each — “the largest IPO in history” and a deal that “looks set to make Musk the world’s first trillionaire.” The next day, trading in ticker SPCX opened at $150, an 11% jump, with the price spiking as high as $167; above $138, that valuation alone is enough “to make Elon Musk the world’s first trillionaire” and gives SpaceX a market cap above $2 trillion.

Investor demand was extraordinary. The IPO drew “more than $70 BILLION worth of retail orders alone,” almost enough to fill the entire $75 billion sale by itself, and Robinhood reported “record-breaking” traffic and brief trading disruptions as SpaceX shares began to trade and surged, briefly pushing the company’s value past $2 trillion. Wall Street banks framed the offering as a bet on a “sci-fi” strategy, persuading investors to overlook steep historic losses and grant Musk near-total control.

As the stock climbed nearly a fifth on its debut, making Musk a trillionaire on paper, Musk celebrated online, amplifying claims that the IPO would create “4,400 new Millionaires, from engineers to Cafeteria workers” and spotlighting a welder who “has just become a millionaire” after years of buying company stock. TechCrunch estimates roughly 4,400 employees could reach millionaire status, feeding expectations that a “SpaceX Mafia” of founders and investors will now pour capital into a new wave of space startups.

Beyond the first-day euphoria, attention quickly shifted to what comes next. SpaceX is now a public company “valued for its AI potential” more than for rockets or Starlink, and its IPO playbook is already seen as a model for Anthropic and OpenAI, which are expected to copy its early, tightly managed investor education and fixed pricing strategy. Shares have continued to gain in subsequent sessions, bolstering sentiment in broader markets, and analysts have initiated coverage with targets implying multi-trillion-dollar futures.

Criticism has grown just as sharply. The Verge argued that Musk’s new status proves “a trillion dollars is a stupid amount of money,” stressing how inconceivable such wealth is in human terms, while a companion piece branded the world’s first trillionaire “a killer,” tying Musk’s political role in dismantling USAID-funded health programs to hundreds of thousands of projected deaths. TechCrunch highlighted that Musk’s influence is peaking even as he is “more disliked and more powerful than ever,” with over 80% voting control at SpaceX and an S-1 that locks in his dominance.

Questions also loom for smaller investors. Layers of special-purpose vehicles mean some late-stage backers “won’t know how many SpaceX shares they actually own” until rolling lock-ups unwind over months, exposing them to fees, delays, and even fraud risk. And while bankers and advocates hail a triumphant test of Wall Street’s appetite for visionary tech, skeptics warn that public shareholders have effectively bet on a single, polarizing figure whose plans for SpaceX’s AI-heavy future remain as uncertain as they are ambitious.

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