Elon Musk’s SpaceX began trading at $150 a share on Friday, above its listing price of $135 a share, making him the world’s first-ever trillionaire following the IPO.

The rocket and satellite company raised a record $75 billion, valuing the company at about $1.8 trillion, pushing the value of Musk’s stake in SpaceX to an estimated $690 billion. The company is trading on the Nasdaq under the ticker “SPCX” after pricing its IPO on Thursday.

Combined with his holdings in electric vehicle maker Tesla, as well as other investments and assets, Musk’s net worth is now estimated at about $1.1 trillion.

SpaceX stock jumped after it began trading, rising to $168.75 a share before paring some of those gains to trade around $158 a share. It subsequently rebounded and reached a new high of $174.25.

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Elon Musk founded SpaceX and continues to serve as its CEO. (Jessica Christian/San Francisco Chronicle via Getty Images)

Investor demand for SpaceX has been intense. Reuters reported this week that the company attracted more than $250 billion in orders, while Bloomberg News reported Thursday that retail investors alone submitted more than $70 billion in requests for shares.

The company is expected to allocate at least 20% of the offering to retail investors, according to Bloomberg — an unusually large portion for individual investors in a deal of this size.

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SpaceX’s IPO raised $75 billion and was the largest IPO in history, surpassing the $29 billion IPO of Saudi Aramco in 2019.

The IPO cemented Musk’s status as the world’s richest person, pushing the value of his holdings toward $1 trillion, a milestone no individual has previously reached.

SpaceX has grown into the world’s largest space company. (AFP via Getty Images)

Founded by Musk in 2002, SpaceX has grown into the world’s largest space company and a dominant force in commercial launch services. The company pioneered reusable rocket technology, helping lower launch costs and reshape the economics of the space industry. It has also become a key contractor for NASA and the U.S. government through civil and national security missions.

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Starlink, SpaceX’s satellite internet business, has emerged as a major growth engine, providing broadband connectivity to consumers, businesses and governments around the world. According to the company’s IPO filing, Starlink generated the majority of SpaceX’s $18.67 billion in revenue last year.

The public debut has long ranked among Wall Street’s most anticipated offerings. SpaceX spent years as one of the world’s most valuable private companies, with investors eager for an opportunity to buy shares in the business.

SpaceX is the leading provider of commercial space launch services. (Joe Skipper/Reuters)

According to the IPO filing, SpaceX will maintain a dual-class share structure that leaves control firmly in Musk’s hands. Class B shares will carry 10 votes each, while publicly traded Class A shares will carry one vote apiece. Musk is expected to retain roughly 85% of the company’s voting power following the offering.

Some 4,400 current and former SpaceX employees also stand to become millionaires through stock compensation accumulated during their time at the company, according to The New York Times, citing an analysis by investment platform Hill.com.

SpaceX CFO Bret Johnsen, center left, and President Gwynne Shotwell, center, during the company’s IPO at the Nasdaq MarketSite. (Michael Nagle/Bloomberg via Getty Images)

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If shares trade above their offering price following Friday’s debut, SpaceX’s valuation could climb even higher, potentially pushing Musk’s net worth beyond the trillion-dollar threshold while rewarding thousands of employees and investors who backed the company during its rise.

This is a developing story. Please check back for updates.

Reuters contributed to this report.

Her Royal Highness Princess Bajrakitiyabha has passed away at 47 due to cardiac issues and an abdominal infection, despite receiving medical care. Royal funeral arrangements will follow royal tradition.

Key Points

• Announcement of Passing: Her Royal Highness Princess Bajrakitiyabha Narendiradebyavati has passed away at age 47 after battling health issues. She had been unconscious due to a cardiac condition and receiving treatment since December 15, 2022.
• Health Decline: Since May 21, 2026, her condition worsened due to an abdominal infection and complications, including low blood pressure and cardiac arrhythmia. Despite dedicated medical care, her health continued to decline.
• Royal Funeral Arrangements: The King has commanded that royal funeral rites be conducted with the highest honors. The Princess’s remains will be enshrined at Biman Rataya Pavilion in the Grand Palace.

Her Royal Highness Princess Bajrakitiyabha Narendiradebyavati Kromluangrajasarinisiribajra Mahavajrarajadhita Has Passed Away

ANNOUNCEMENT FROM THE ROYAL HOUSEHOLD BUREAU

Her Royal Highness Princess Bajrakitiyabha Narendiradebyavati Kromluangrajasarinisiribajra Mahavajrarajadhita Has Passed Away

Her Royal Highness Princess Bajrakitiyabha Narendiradebyavati Kromluangrajasarinisiribajra Mahavajrarajadhita had been unconscious due to a cardiac condition and had been receiving medical treatment at King Chulalongkorn Memorial Hospital, Thai Red Cross Society, since 15th December 2022, as the Bureau of the Royal Household has periodically informed the public.

Since 21st May 2026, Her Royal Highness has experienced a deterioration in her condition resulting from an abdominal infection caused by inflammation of the large intestine. The Princess also suffered from low blood pressure, cardiac arrhythmia, and abnormalities in blood coagulation. Although the medical team provided dedicated treatment and care to the utmost of their abilities, Her Royal Highness’s condition continued to worsen. On Thursday, 11th June 2026, at 7:48 p.m., Her Royal Highness passed away peacefully at King Chulalongkorn Memorial Hospital at the age of 47 years.

His Majesty the King has graciously issued a Royal Command directing the Bureau of the Royal Household to arrange the royal funeral rites with the highest royal honors in accordance with royal tradition. The royal remains will be enshrined at Biman Rataya Pavilion within the Grand Palace.

Source : Her Royal Highness Princess Bajrakitiyabha Narendiradebyavati Kromluangrajasarinisiribajra Mahavajrarajadhita Has Passed Away

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They include David Staziker of the Development Bank of Wales who joins its boar

Welsh Water has made two senior appointments. Mick Jeavons has been made an executive director and chief financial officer, while David Staziker joins the board as a non-executive director.

Mr Jeavons was appointed interim chief financial officer in May last year and will now join the board with responsibility for the company’s finance and business performance, regulatory oversight, procurement and digital systems. Before joining Welsh Water he held a number of senior finance roles, most recently as group chief financial officer at International Distribution Services plc.

Mr Staziker is chief financial officer at the Development Bank of Wales, where he leads the organisation’s finance and ICT teams. He joined the development bank in 2002 and has held a number of senior roles across the business, including on the investment side, before being appointed chief financial officer in 2018. Prior to this, he worked at PwC and Gambit Corporate Finance.

Chair of Glas Cymru, the parent company of Welsh Water, Jane Hanson said: “We are delighted to confirm Mick’s appointment to our Board as Executive Director and Chief Financial Officer. He brings a wealth of financial leadership experience and a strong track record of supporting long-term investment and transformation programmes.

“I am also pleased to welcome David Staziker to the board as a non-executive director. His extensive financial, investment and governance experience, together with his deep understanding of the Welsh business landscape, will be a valuable addition as we continue to deliver for customers and communities across Wales.”

Welsh Water chief executive Roch Cheroux added: “Mick’s appointment comes at a crucial time for the business as we continue to deliver one of the largest investment programmes in our history, focused on improving services for customers, enhancing environmental performance and building resilience for the future.

“We are also very pleased to welcome David Staziker to the board His extensive background in supporting and developing the Welsh business sector will bring additional strength and perspective to board discussions and support our long-term ambitions for Welsh Water.”

Mr Staziker said: “I am delighted to be joining the board of Glas Cymru at such an important time for the organisation and the sector. Welsh Water plays a vital role in delivering essential services to communities across Wales, and its not-for-profit model provides a strong foundation for long-term, sustainable investment.

“I look forward to working with the board and executive team to support the delivery of its ambitious plans and continued focus on customers, communities and the environment.”

Both appointments will be put forward for election by Glas Cymru members at the company’s forthcoming annual general meeting.