Elon Musk’s SpaceX Completes Historic $2 Trillion IPO, Making Him the World’s First Trillionaire
Elon Musk’s SpaceX completed its historic initial public offering (IPO) on June 12, 2026, valuing the company at $2 trillion, according to reports. The deal made Musk the world’s first trillionaire, with the space company becoming the sixth most-valuable U.S. firm, according to the source article. The IPO raised $75 billion, surpassing the previous record set by Alibaba’s 2014 offering.
Musk’s Humble Beginnings and Unlikely Success
At the company’s Texas headquarters, Musk addressed employees days before the IPO, recalling SpaceX’s uncertain early days. “In the early days, I gave it less than 10% chance of succeeding,” he said. “If people had told me this was going to happen, I was like, man, you must be smoking some really good crack,” he added, per the source. Founded in 2002, SpaceX now employs 22,000 people and has achieved milestones like reusable rocket technology and crewed missions to the International Space Station.
Market Reactions and Investor Criticisms
Despite SpaceX’s $4.9 billion loss in 2025 and over $41 billion in total losses since its founding, the IPO priced at $135 per share with no price range, according to the source. Investment banker Lloyd Greif of Greif & Co. called the deal “a deal based on what one man wanted,” highlighting Musk’s influence. Critics, including Sen. Bernie Sanders and California Gov. Gavin Newsom, criticized the wealth gap, with Newsom noting, “Americans are struggling to pay for groceries and gas while Elon Musk becomes a TRILLIONAIRE.”
Comparisons to Past Tech IPOs
The SpaceX IPO surpassed Facebook’s 2012 debut, which raised $16 billion and valued the company at $100 billion. SpaceX’s first-day trading saw a 19% gain, with 500 million shares exchanged, nearing Facebook’s 580 million. Unlike Facebook’s 56% voting control by Mark Zuckerberg, Musk’s voting power at SpaceX exceeds 82%, according to the source. The deal also boosted stakes for major investors, including Alphabet, which saw its holding surpass $100 billion after a 2015 investment.
AI Concerns and Regulatory Scrutiny
Amid the IPO, advocacy group Safe AI Now erected an inflatable effigy of Musk in Times Square to highlight concerns over SpaceX’s AI safety practices. However, the stock’s performance bolstered confidence in upcoming tech IPOs, including OpenAI and Anthropic, which are expected to go public in 2026, according to former Nasdaq CEO Robert Greifeld.
Analysts’ Mixed Outlook on Valuation
Financial research firm CFRA issued a “sell” rating for SpaceX, citing risks tied to the Starship rocket and reliance on Starlink’s broadband revenue. Analyst Keith Snyder warned that “SpaceX’s long-term strategy remains heavily dependent on Starship,” calling it a “bottleneck.” In contrast, Sequoia partner Shaun Maguire defended the valuation, comparing Starship’s potential to the impact
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