SpaceX and Tesla CEO Elon Musk has become the world's first trillionaire after a monster IPO from SpaceX that took place on Friday. The stock price was offered at $135 for the IPO, and the company was valued at around $1.8 trillion market cap on Friday as the price began to rise. Democrat politicians were quick to slam Musk over the wild success.
At around midday, the price of the stock stood at around $165 per share. The estimated value of Musk's stake in the company is an estimated $690 billion, per Fox Business. The IPO cemented Musk's position as the world's wealthiest person as he became the first person to ever have over $1 trillion in assets.
Elon Musk just became the world's first trillionaire.
— Elizabeth Warren (@SenWarren) June 12, 2026
The typical American household would have to work more than 11 MILLION years to make Elon Musk's level of wealth.
We need a wealth tax.
