Quick overview

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Elon Musk is now formally the first trillionaire in history following SpaceX’s stock launch, with his stake valued at almost $870 billion on paper due to the company’s IPO price.

The rocket and satellite company priced its initial public offering (IPO) Thursday night at $135 per share in advance of today’s debut on the Nasdaq (^IXIC), trading under the ticker SPCX (SPCX). The stock opened at $150 per share.

Musk owns about 42% of SpaceX’s equity due to a dual-class share structure that gives him about 82% voting control through Class B stock. His equity stake is worth $869.4 billion, with shares trading at about $158 at midday.

According to the most recent regulatory filings, Musk owns about 717 million Tesla (TSLA) shares, excluding vested stock options. At the electric carmaker’s current price of about $388 per share, this position is worth about $278.2 billion. Combine the two—roughly $286.8 billion from Tesla and $866.5 billion from SpaceX—with Musk’s stakes.

Starlink, SpaceX’s satellite internet service, which currently serves millions of paying customers worldwide and accounts for the majority of the company’s revenue, has helped the company expand quickly.

, Its next-generation heavy-lift rocket and its AI holdings from its merger with Musk’s xAI, SpaceX has continued to report yearly losses.  Data centers like Colossus and Colossus II, capital expenditures increase over the past year. However, investors seem to be ignoring warning signs like cash burn and corporate governance problems like a dual-class stock structure in favor of Musk’s vision, which could pay off handsomely.