Ololade Adeyanju/
Elon Musk has become the world’s first trillionaire after SpaceX completed the largest initial public offering in history, raising $75 billion and briefly pushing the company’s valuation above $2 trillion on its debut on the Nasdaq.
Shares of the rocket, satellite and artificial intelligence conglomerate were priced at $135 each before opening significantly higher and closing nearly 19 per cent above the offer price at $160.95.
The strong market debut lifted SpaceX’s market capitalisation beyond $2 trillion, cementing its status as one of the world’s most valuable publicly traded companies.
The record-breaking float eclipsed the previous global IPO record held by Saudi Aramco and instantly transformed Musk’s personal fortune.
Analysts estimate that the entrepreneur’s holdings in SpaceX, combined with his stakes in Tesla and other ventures, pushed his net worth beyond the $1 trillion mark for the first time in history.
The offering attracted extraordinary investor demand, reportedly exceeding available shares by almost four times.
Institutional investors and retail traders alike rushed to gain exposure to a company widely viewed as a dominant force in commercial spaceflight, satellite communications and emerging artificial intelligence infrastructure.
SpaceX’s public debut marks a watershed moment not only for financial markets but also for the rapidly converging sectors of space technology and AI.
The company now encompasses its launch business, Starlink satellite internet network and AI-related operations linked to Musk’s broader technology empire.
Investors have increasingly viewed SpaceX as both a space exploration company and a strategic AI infrastructure player.
Yet the historic listing has also renewed debate about wealth concentration and corporate governance. Critics point out that Musk retains overwhelming voting control and that SpaceX remains unprofitable despite generating substantial revenue.
The company reportedly recorded billions of dollars in operating losses last year as it continued investing heavily in Starship development, satellite expansion and AI infrastructure.
Adding a further layer of intrigue to the milestone, Musk has downplayed the significance of his newfound trillionaire status.
Speaking recently about the long-term impact of artificial intelligence and robotics, he argued that money itself could eventually become irrelevant.
According to Musk, advances in AI and automation could create a future in which robots perform most work and produce an abundance of goods and services, dramatically reducing scarcity and the need for traditional economic systems.
“I think money will stop being relevant at some point in the future,” Musk said during a discussion with entrepreneur, Peter Diamandis, suggesting that AI-driven productivity could eventually outpace the role of currency in society.
The comments reflect Musk’s long-standing belief that artificial intelligence and robotics will fundamentally transform labour markets and economic structures.
He has previously argued that automation could usher in an era of unprecedented abundance, where access to goods and services becomes far less constrained than today.
For now, however, investors remain focused on SpaceX’s commercial prospects.
The company dominates global launch services through its reusable rocket technology, operates the world’s largest satellite internet constellation through Starlink and is pursuing ambitious projects ranging from lunar missions to eventual human settlement of Mars. These growth ambitions helped fuel the extraordinary enthusiasm surrounding the IPO.
Market analysts say the success of the SpaceX float could pave the way for a new wave of mega-listings from leading AI companies and technology firms, potentially reshaping global capital markets over the coming years.
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