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Elon Musk, who became the world’s first trillionaire in SpaceX’s debut, had his net worth swell by $60.8 billion on Monday to an estimated $1.2 trillion. He owns about 38% of SpaceX and is by far the world’s richest person, as Musk’s fortune is roughly four times that of Google co-founder Larry Page ($302.3 billion), who ranks second ahead of fellow Google co-founder Sergey Brin ($278.8 billion).
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tangent
Two billionaires announced they increased their stakes in SpaceX in recent days: Gina Rinehart, Australia’s richest person with a net worth estimated at $25.2 billion, purchased a stake worth more than $1 billion through her Hancock Prospecting, the Wall Street Journal reported. Ron Baron, the billionaire founder of Baron Capital, told CNBC his firm purchased an additional $1 billion in SpaceX shares on Friday, increasing its position to about $25 billion. Baron was bullish on SpaceX ahead of its IPO, saying in a video posted to X earlier this month that Baron Capital expects SpaceX’s market value to exceed as much as $30 trillion.
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SpaceX made its highly anticipated trading debut on Friday on the Nasdaq, opening at $150 per share after initial projections of $175. Musk’s firm publicly disclosed its IPO paperwork in May, revealing it aimed to sell about 555.6 million shares at $135 per share, raising $75 billion and valuing the company at a record $1.77 trillion. In the filing, SpaceX disclosed a net loss of $4.28 billion through its latest quarter after shedding $4.94 billion in 2025. About 69% of its revenue came from Starlink ($4.69 billion), and its connectivity arm was the only profitable section of the company after its space and AI units lost $619 million and $2.5 billion, respectively. Some analysts issued warnings ahead of SpaceX’s IPO, including Morningstar, which argued that SpaceX shares should trade at $63 per share, roughly half of its IPO price, and that SpaceX overvalued its projected revenue from Starlink. Jay Ritter, a finance professor at the University of Florida, told Forbes that SpaceX’s stock would likely be boosted by the “Elon Musk effect,” or the hype surrounding Musk that Ritter said would boost the IPO before adding long-term volatility.
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further reading
ForbesSpaceX Opens At $150—Surging 20% After Largest IPO Ever (Live Updates)By Ty RoushForbesSpaceX Shares Close Up 19% After Historic IPO Makes Musk World’s First TrillionaireBy Antonio Pequeño IV