Soon-to-be-trillionaire Elon Musk's SpaceX set for market debut with record-breaking IPO
· Toronto Sun
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The world’s wealthiest person is set to get a whole lot richer as Elon Musk’s SpaceX sets a record-setting milestone with the largest-ever initial public offering of stock.
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On Thursday, SpaceX confirmed its IPO price was set at $135 a share, the world’s largest-ever stock market debut, and that it would sell more than 555.6 million shares, the company said in a filing with the Securities and Exchange Commission.
That means the rocket and satellite maker would raise somewhere in the ballpark of $75 million from its offering, putting its valuation at about $1.77 trillion.
Say what you want about Musk’s lack of filter or the way he wields power like an oligarch, but SpaceX’s IPO debut is proof that people — begrudgingly or admiringly — believe in the tech mogul’s vision.
Teams are go for launch with a $135 price per share for the SpaceX IPO → https://t.co/HlsF4GxRbI
— SpaceX (@SpaceX) June 11, 2026
How much is Musk worth?
Musk boasted a net worth of roughly $780 million, according to Forbes , far ahead of Alphabet co-founder Larry Page’s meagre second-place $300 billion — and that was before the share sale.
Musk currently owns half of SpaceX, and would still control nearly half of the company’s total shares after the offering. Some of those are special shares with greater voting power, according to the filing, giving the tech mogul control of 82.4% of the voting power after the IPO.
Most of Musk’s wealth rests comfortably with SpaceX, where he holds a stake worth roughly $866 billion. Add Tesla and his other companies to the mix and that takes his net worth beyond $1.1 trillion when the stock begins trading Friday, per Reuters’ estimates.
That’s right. Trillionaire. The world’s first.
When will SpaceX start trading?
U.S. markets open at 9:30 a.m. ET, but SpaceX will begin trading later in the day, which is normal procedure for initial public offerings, as it will enter an auction period to determine a fair opening price. So that can be lower or higher than the $135 shares priced on Thursday.
The exact time is unknown and depends on the timeline of the banks and companies working to get the IPO up and running, CNN reported.
But shares of SpaceX could begin trading anytime in the morning or afternoon, but whenever it does, the stock will close for the day at 4 p.m. ET with the rest of the market.
SpaceX will be under the ticker “SPCX” on the Nasdaq and Nasdaq Texas exchanges.
The aerospace company would obliterate an IPO record previously set by Saudi Aramco.
In 2019, Saudi Arabia’s state-owned oil company was valued at $1.7 trillion and raised more than $29 billion when it went public.
Musk founded SpaceX in 2022, redefining the space industry with partly reusable rockets and developing satellite internet service provider Starlink.
This past February, SpaceX — which has contracts with NASA and other federal agencies — bought Musk’s AI company, xAI, which owned his social media platform, X, formerly Twitter.