Musk: First Trillionaire
SpaceX IPO Propels Elon Musk to Become World's First Trillionaire
SpaceX made history on June 12, 2026, debuting on the Nasdaq under the ticker SPCX in the largest IPO ever recorded. The company raised $75 billion by selling 555.6 million shares at $135 each, giving it a valuation of $1.77 trillion — more than the GDP of all but 19 countries, according to Reuters.
The listing made founder Elon Musk the world's first trillionaire, with an estimated net worth between $970 billion and $1.1 trillion. Musk marked the moment by reflecting on the company's odds at birth. "It is certainly hard to believe that a little company that started with less than a 10% chance of success is now going public with the largest IPO ever," he said, per Ratopati.
SpaceX Opens Trading Amid Historic IPO Frenzy
SpaceX President Gwynne Shotwell rang the Nasdaq opening bell on June 12, declaring, "Today, we make history again. We have a history of making history." Early trading showed shares opening near $175 — well above the $135 IPO price — as demand from large institutions far outpaced supply, according to Newsposl.
BlackRock reportedly placed a $5 billion order for SPCX shares. Gulf sovereign wealth funds were also heavily oversubscribed. But not everyone is bullish. Morningstar issued a fair value estimate of just $63 per share — a 53% discount to the IPO price — warning that the valuation relies on "moonshot" scenarios with only a 7% chance of playing out, per WHEC.
Musk's Trillion-Dollar Wealth Sparks Inequality Debate
Musk's fortune combines his roughly 42% stake in SpaceX with his Tesla holdings. The number is so large it strains belief: if Musk spent $1 million every day, it would take him 2,740 years to spend $1 trillion, according to NS News.
Critics were quick to respond. Nabil Ahmed of Oxfam America called the moment "a new pinnacle of oligarchy," saying it reflects a "new Gilded Age" of extreme inequality. The IPO comes while a war in the Middle East has raised global energy costs and pushed Brent Crude past $120 per barrel earlier this year.
ECB Raises Rates as Iran War Drives Inflation
On June 11, the European Central Bank raised its deposit rate to 2.25% — its first hike since 2023. ECB President Christine Lagarde said "the war in the Middle East is generating inflation pressures," with Eurozone consumer prices rising to 3.2% in May 2026. Economists warn the Fed and Bank of England may follow suit next week.
Markets got some relief on June 11, when President Trump announced a possible "breakthrough" in talks with Iran. Oil prices dropped sharply, with Brent Crude falling from $93 to $86.31 per barrel on June 12. Analysts at Saxo Bank said the "risk-on" market mood on Friday was driven more by easing Iran tensions than by the SpaceX IPO itself.
SK Hynix Eyes Nasdaq Over NYSE for August Debut
SpaceX's landmark listing may be pulling more global giants toward the Nasdaq. South Korean chipmaker SK Hynix is reportedly choosing the Nasdaq over the NYSE for a planned U.S. listing in August 2026, according to Reuters. The move signals growing confidence in Nasdaq as the go-to exchange for tech and semiconductor companies.
Analysts say Nasdaq's "Fast Entry" listing rules and the dominance of passive index funds on the exchange make it the preferred home for AI and chip firms. SK Hynix joining SPCX on the Nasdaq would further cement the exchange's lead over the NYSE in the global technology race.
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