Musk hits trillionaire mark as SpaceX IPO lifts wealth

Musk becomes – SpaceX’s public debut on Friday lifted Elon Musk’s on-paper wealth beyond $1 trillion, after the stock was priced at $135 per share. The milestone comes as Musk’s influence expands inside and outside government, while details of his Tesla pay package and how h

By the time SpaceX opened for trading on Friday, Elon Musk was already positioned to cash in on the moment—at least on paper.

The company’s IPO priced at $135 per share just ahead of the public markets debut. and after that pricing Musk owned roughly $860 billion worth of SpaceX stock. When the shares began trading and SpaceX’s stock popped on Friday. the rocket company’s valuation surge pushed Musk—already the richest person in the world—past the $1. 000. 000. 000. 000 mark in immediate on-paper wealth.

In early trading, SpaceX’s stock continued to climb, adding more to that figure. The numbers are stark enough on their own: Musk’s SpaceX stake, combined with his stake in Tesla, is what gives him more than $1 trillion in total wealth on paper.

The timing lands in a politically charged moment. Musk’s ascent is happening when he is described as both “more disliked and more powerful than ever.” Much of 2024. he spent around $300 million funding Donald Trump’s presidential campaign. and after the election he became involved in the Trump administration. He led the so-called “Department of Government Efficiency. ” a move characterized as not cutting overall government spending and instead involving the cancellation of a number of contracts with little review or care for their contents.

His involvement has also included leading the dismantling of whole departments like USAID. The Harvard T.H. Chan School of Public Health says that decision has already led to hundreds of thousands of deaths.

Even as those controversies swirl, there is more money lined up for Musk. Last year. Tesla shareholders awarded him a pay package that could be worth $1 trillion on its own. provided he grows Tesla’s valuation and hits certain operational milestones. And for SpaceX. Musk’s control over liquidity has a specific loophole: 1 billion of his SpaceX shares cannot be sold unless SpaceX creates a human colony on Mars. For now. he can borrow against those shares. which could allow him to quickly access billions of dollars in cash before reaching the Mars goal—SpaceX itself says that goal is “improbable”—and without paying taxes on that wealth.

With SpaceX now in the public market, Musk’s personal wealth is only one piece of the picture. He also keeps far-reaching leverage inside the company. Even with outside shareholders now part of the ownership mix. Musk owns more than 80% of the voting control. can hand-select the board of directors. and has structured SpaceX in a way that severely limits any legal challenges.

All of that is feeding into what SpaceX calls the largest addressable market in history. with Musk positioned to steer the company for the long run. The IPO made him richer in the immediate sense—its first day lift on Friday did the math—but the structure of his control and the route to accessing capital are what could keep the wealth—and the influence—growing after the opening bell.

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