For the first time in history, a person has reached the one trillion dollar mark in wealth. Elon Musk, founder of Tesla and SpaceX, saw his fortune surpass US$1.11 trillion (equivalent to £828 billion) after SpaceX’s listing on the Nasdaq stock exchange, an event that shook the financial market. The public launch of the rocket, telecommunications and artificial intelligence (AI) company cemented Musk’s position as the world’s richest individual.
SpaceX’s entry into Nasdaq and the rise in value
SpaceX held its initial public offering (IPO) with resounding success in the financial market, reaching an initial valuation of US$2.2 trillion. Investor enthusiasm for the company, which focuses on rockets, telecommunications and artificial intelligence, boosted share values notably during its debut on the Nasdaq. The movements in the share price were:
- Initial offer:$135 per share
- Opening of the auction:$150 per share
- Brief peak:$176.50 per share
- Friday closing:Approximately $161 per share
The IPO raised $75 billion from investors before the shares even hit the open market, demonstrating strong confidence in the potential of space businesses and companies associated with Musk.
Fortune linked to SpaceX shares and financial scenario
Although the trillionaire milestone is historic, Elon Musk’s vast assets are mostly linked to the value of his shareholdings, both in Tesla and in SpaceX itself. He owns 42% of SpaceX, which gives him almost total control over the company’s decisions. However, the billionaire will not be able to sell his SpaceX shares for a minimum of one year, making most of his wealth “on paper.”
It’s crucial to note that SpaceX is not operating profitably at the moment, losing more money than it generates from its operations. Financial reports indicate losses exceeding US$9 billion between 2025 and 2026, mainly due to heavy investments in artificial intelligence and infrastructure. The expectation of future profits, not current results, drives much of its high market valuation.
The financial impact on the company’s employees
Despite not being profitable, SpaceX’s stock market debut directly benefited its employees. It is estimated that more than 4,400 employees, including current and former team members, have become millionaires. They owned shares in the company as part of their compensation packages, seeing its value soar with the IPO.
Global debate on inequality and the influence of Elon Musk
Elon Musk’s rise to trillionaire status immediately reignited heated discussions about growing global wealth inequality. His personal fortune now compares to the annual economic output of entire nations, such as Poland or Switzerland, demonstrating an unprecedented concentration of capital. This scale of wealth has turned Musk into a powerful and sometimes controversial figure on the global political stage.
Politicians such as Democratic senators Bernie Sanders and Elizabeth Warren have publicly condemned the financial framework, arguing that it underscores the need for taxes on large fortunes. Musk has donated hundreds of millions of dollars to re-election campaigns, such as that of former President Donald Trump, and was involved in political decisions that included the closure of the US Agency for International Development (USAID).
