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Elon Musk becomes world's first trillionaire as SpaceX IPO vaults his fortune past 1 trillion
SpaceX's 1.78tn IPO launches Friday, sparking trillionaire bid and market debate
SpaceX’s record-breaking $1.78tn initial public offering begins trading on Friday, catapulting Elon Musk a step closer to becoming the world’s first trillionaire while igniting a global debate over whether the company’s valuation reflects ambition or overreach.
The IPO, which values the Hawthorne, California-based company at $1.78tn, will see at least $75bn in shares sold to investors, making it the largest stock market float in history . Musk, already the richest man on Earth, is expected to retain control even after the offering, which analysts warn carries a “major disconnect on price” . The float comes amid warnings that SpaceX’s valuation hinges on unproven future technologies, including AI data centres in orbit and Mars colonisation plans outlined in its SEC filings .
The offering has drawn comparisons to a “mafia” of SpaceX alumni who have launched their own space start-ups, many poised to cash out fortunes when trading begins on the Nasdaq on Friday . Yet concerns persist over hidden liabilities, with US filings revealing billion-dollar obligations tied to long-time Musk associate and SpaceX shareholder Jared Birchall .
Environmental groups are suing to block a land swap in South Texas, where the US government is transferring 280 hectares of a wildlife refuge to SpaceX’s Starbase facility to support rocket launches . Critics argue the expansion threatens biodiversity and local beach access, even as Musk’s company prepares for its historic market debut.
Investors are divided. Some see SpaceX as a bellwether for AI and space infrastructure, while others question whether the IPO will trigger broader market volatility. “This is a test of whether the market can stomach Musk’s techno-futurism,” said Elin Benjaminsson, a Stockholm-based strategist . The float also coincides with a broader tech sell-off, with Oracle’s 10% drop underscoring nerves in AI-related trades .
As trading commences, the world will watch whether Musk’s vision outpaces scepticism—or whether the largest IPO in history becomes a cautionary tale.
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