SRINAGAR: Elon Musk has reportedly become the world’s first trillionaire after a sharp increase in the valuation of his rocket company SpaceX on its first day of trading, according to Reuters.
SpaceX shares are said to have risen around 11 per cent on debut, moving from an initial public offering price of $135 to $150, before climbing further to approximately $172. The surge reportedly placed the company’s market valuation at around $2.18 trillion, according to figures cited in early trading assessments.
Based on these estimates, Musk’s net worth is understood to have crossed the trillion-dollar threshold, driven largely by his holdings in SpaceX and Tesla, as well as stakes in Neuralink and The Boring Company, both of which he founded.
Musk, who overtook Amazon founder Jeff Bezos in 2021 to become the world’s richest individual after Tesla shares surged, has long seen his wealth closely tied to fluctuations in equity markets.
According to comments attributed to Musk and reported by international media, SpaceX’s public listing is aimed at raising capital for long-term ambitions including satellite deployment, orbital data centres, and future human settlement beyond Earth. He has repeatedly described his vision as “to make life multi-planetary”.
In remarks carried by Reuters, Musk said: “Not just a few astronauts, I mean literally you. Whoever you are watching this, SpaceX wants to be able to take you to the moon, take you to Mars and ultimately beyond.”
The company has outlined ambitious long-term goals, including the establishment of a one-million-person Martian settlement, large-scale orbital infrastructure, and expansion into advanced computing and artificial intelligence systems, placing it in potential competition with firms such as OpenAI and Anthropic, according to industry analysts.
However, SpaceX’s expansion has also been accompanied by significant financial strain. Reports cited by Bloomberg indicate the company recorded losses of approximately $8.7 billion between early 2025 and March 31, 2026, as it continues to invest heavily in research and infrastructure.
Musk has previously made sweeping predictions about the future impact of artificial intelligence and automation, suggesting in comments reported by CNBC that money could become “irrelevant” and employment “optional”, as productivity driven by AI and robotics transforms global economic systems.
