SpaceX founder Elon Musk is seen in a file photograph. The company’s public-market debut on June 12, 2026, valued SpaceX at more than $2 trillion and elevated Musk’s estimated net worth above $1 trillion based on market valuations. (Photo courtesy of Wikimedia Commons)

NEW YORK — Elon Musk became the world’s first trillionaire on paper Friday after SpaceX surged in its first day of public trading, turning the rocket and satellite company’s long-awaited Wall Street debut into one of the largest initial public offerings in history.

Space Exploration Technologies Corp., trading on Nasdaq under the ticker SPCX, priced its initial public offering at $135 a share. The stock opened at $150 and closed near $161, lifting the company’s market value above $2 trillion, according to market data and reports by Reuters and The Associated Press.

The offering raised about $75 billion, surpassing previous records for a public listing, Reuters reported. The debut also pushed the estimated value of Musk’s holdings across SpaceX, Tesla and other ventures above $1 trillion, based on market-based wealth calculations.

The milestone is not the same as cash wealth. Musk’s fortune remains heavily tied to equity stakes whose value can rise or fall sharply with market conditions. His estimated net worth could change with SpaceX’s public shares, Tesla’s stock price and the valuation of his other privately held companies.

SpaceX’s listing gives public investors direct access to a company that has reshaped the commercial space industry through reusable rockets, Starlink satellite internet, NASA missions and national-security launches. Securities and Exchange Commission filings show SpaceX registered the offering before the sale, giving investors a formal view of its business, risks and corporate structure.

The public listing also brings new scrutiny. As a publicly traded company, SpaceX will face investor pressure, regulatory reporting obligations and closer examination of its valuation, governance and reliance on government and commercial contracts.

The debut marked a watershed moment for Wall Street and the commercial space industry, turning one of the world’s most closely watched private companies into a publicly traded enterprise valued at more than $2 trillion. Whether that valuation proves durable will now be tested not in private markets, but under the scrutiny of public investors.