Editor: Katerina Koutselaki
Few business leaders have become as deeply embedded in popular culture as the ambitious entrepreneur, who is a central figure in the , amassed such a large fortune that it makes him the .
At a time when public opinion appears critical of the super-rich, the 54-year-old Musk maintains a fanatical following without even adopting the approachable profile of other tycoons such as Warren Buffett.
The initial public offering for SpaceX could make Elon Musk the world’s first trillionaire. Just how wealthy is the tech founder? His fortune now stands at roughly $970 billion, mostly in stock, according to a WSJ analysis.
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— The Wall Street Journal (@WSJ)
Today, his empire is moving into another dimension. SpaceX is holding the (IPO) in US history, raising a record $75 billion and boosting the company’s value to $1.77 trillion.
“Ilon’s Premium” and breaking the rules
With the share price set at $135, SpaceX is outpacing giants such as JPMorgan Chase, Berkshire Hathaway and Meta. The previous world record was held by Saudi Arabia’s state-owned oil company, Saudi Aramco, with $25.6 billion in 2019.
SpaceX priced the biggest-ever US initial public offering at $135 per share, making Elon Musk’s rocket and spacecraft manufacturer one of the world’s most valuable companies
— Reuters (@Reuters)
The market appears to be ignoring traditional financial criteria, as SpaceX posted a loss last year. Investors are betting blindly on Musk’s vision, a phenomenon analysts call the “Elon premium.”
“A market capitalization of $1.5-$2 trillion throws all traditional valuation methodologies out the window,” notes Matt Kennedy, strategist at Renaissance Capital.
Musk imposed his own terms on Wall Street:
- It bypassed the classic process of negotiating a price with bankers.
- He allocated 30% of the shares to small investors (retail buyers), an unusually high percentage.
- He holds 82% of the voting rights, ensuring total control.
After trading begins, Musk’s net worth will exceed $1.1 trillion, light years behind the world’s second-richest person, Alphabet co-founder Larry Page.
Starlink and xAI: The 28.5 Trillion Bet
SpaceX is no longer just a rocket company. Its mission, as defined by itself, is to “extend the light of consciousness to the stars,” but its finances rest on the present.
In the field of space missionsis responsible for over 4/5 of the mass launched into orbit worldwide in the last three years. With the Starlinkwhich is the company’s main source of revenue, provides satellite internet in 164 countries. For her xAI (Artificial Intelligence), SpaceX considers it to be the key to the future, as, despite competition from OpenAI and Anthropic, it believes that access to the real-time data of “X” gives a strategic advantage.
The company values the total market it addresses at $28.5 trillion – the largest figure in human history. But critics warn that the valuation relies on technologies that may take decades to become commercially viable, as well as government contracts.
Political storms and the “Edison of our time”
Musk’s massive influence doesn’t come without turbulence. The acquisition of Twitter (now X) in 2022 for $44 billion gave it direct access to hundreds of millions of users, turning it into a regulator of public debate about politics and free speech.
His involvement in the administration of Donald Trump, through the Department of Government Efficiency (DOGE), caused strong reactions, even leading to boycotts and a drop in Tesla sales in international markets. His subsequent public clash with Trump highlighted the dangers of closely tying his businesses to his political ambitions.
Still, for Wall Street, results count.
“Elon is the Edison of our time, our Einstein,” said JPMorgan Chase CEO Jamie Dimon, capturing the awe that prevails in the financial world.
Times Square has put on its holiday cheer to welcome SpaceX to Nasdaq. Analysts are waiting to see if the stock will make the traditional “jump” (pop) of 10-15% or if investor hysteria will take it to unknown, “space” heights.
