/ Sep 30, 2026
/ Sep 30, 2026

Elon Musk becomes world’s first trillionaire as SpaceX IPO soars

Published on

By

Elon Musk has become the world’s first trillionaire after shares in SpaceX surged on their debut trading day following what is reported as the largest initial public offering (IPO) in history.

 

The SpaceX IPO raised over $75 billion, with more than 555 million shares priced at $135 each, valuing the company at about $1.8 trillion before trading began. On its first day on the Nasdaq exchange in New York, shares climbed 11 per cent to $150, pushing its market value to around $2 trillion.

The development places SpaceX among the top 10 most valuable companies in the United States, ahead of firms including Meta and Walmart. The offering was reportedly more than four times oversubscribed, with strong demand from both institutional and retail investors.

SpaceX, founded by Musk in 2002, has expanded from a rocket manufacturer into a satellite internet operator through Starlink and has also integrated Musk’s artificial intelligence venture xAI, which includes the Grok chatbot and the X social media platform.

Musk said the company’s long-term ambition is to expand human activity beyond Earth. “SpaceX wants to be able to take you to the moon, take you to Mars, and ultimately beyond,” he said at a launch event in Starbase, Texas, during the IPO celebrations.

The filing also highlighted aggressive future projections, including ambitions tied to space-based data infrastructure and Mars exploration, alongside rapid expansion of satellite internet services.

However, analysts have raised concerns about the company’s financial position. While SpaceX reported revenue of $18.7 billion in 2025, it also recorded a net loss of $4.9 billion, driven largely by heavy investment in artificial intelligence and infrastructure expansion.

The IPO is expected to trigger further listings from major artificial intelligence firms, with companies such as OpenAI and Anthropic reportedly preparing for public market debuts.

The listing marks a significant milestone for Musk, whose wealth is now described as exceeding any previous billionaire record, driven by investor confidence in SpaceX’s long-term technological ambitions.

You May Like

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

Must Read

Eid-el-Kabir: FG Declares May 27 and 28 public holidays

FG declares October 1 public holiday for Nigeria’s 66th anniversary

The Federal Government has declared Thursday, October 1, 2026, a public holiday to commemorate Nigeria’s 66th Independence Anniversary.   The Minister of Interior, Olubunmi Tunji-Ojo, announced the declaration on Wednesday on behalf of the Federal Government in a statement signed by the ministry’s Permanent Secretary, Magdalene Ajani. The minister congratulated Nigerians at home and abroad, urging citizens to use the occasion to promote unity, patriotism, peaceful coexistence and mutual respect. Tunji-Ojo also called on Nigerians to emulate the country’s founding fathers by demonstrating love for Nigeria and contributing to the development of a nation that future generations can be proud of. “As we celebrate 66 years of our independence, we should always remember that there is hope for our country and our diversity is our strength,” the minister said. He added that collective determination remained the foundation for building a stronger and more prosperous Nigeria. The 2026 Independence Anniversary is being celebrated under the theme, “From Reforms to Stability: Consolidating Nigeria’s Renewed Hope for Shared Prosperity.” According to the Federal Government, the theme reflects its focus on consolidating ongoing reforms and translating their gains into greater opportunities and improved living conditions for Nigerians. The government also reaffirmed its commitment to strengthening national security, improving public safety and creating an environment where citizens can live and work with confidence. Tinubu to Address Nigerians President Bola Tinubu is expected to deliver a nationwide broadcast on Thursday as part of activities marking the 66th Independence Anniversary. The President returned to Lagos on Tuesday after concluding his working vacation in Europe and is expected to spend the Independence celebrations in the state. He is also expected to attend the premiere of a documentary on the late businessman and politician, Moshood Kashimawo Olawale Abiola, at the Wole Soyinka National Theatre in Lagos. According to the Presidency, Tinubu is further expected to hold political meetings in Lagos as preparations for the 2027 general elections continue. Nigeria at 66 Nigeria gained independence from British colonial rule on October 1, 1960, with Sir Abubakar Tafawa Balewa becoming the country’s first Prime Minister. The country became a republic in 1963, with Nnamdi Azikiwe serving as its first President. Nigeria later experienced periods of military rule and the Civil War before returning to constitutional democracy in 1999. The 2026 anniversary marks 66 years since independence and 27 years of uninterrupted constitutional democracy.
Read more

Editor's Pick

Trending News

Newsletter

Enter your email address and receive notifications of news by email.

You have been successfully Subscribed! Ops! Something went wrong, please try again.

© 2026 GongNews. All Rights Reserved.