The stock jumped 11 per cent to $150 before climbing further to around $167, pushing SpaceX’s valuation to approximately $2.18 trillion, according to market estimates.
The surge in valuation propelled Musk’s net worth past the trillion-dollar mark, driven primarily by his holdings in SpaceX and Tesla.
Musk’s fortune spans multiple high-value ventures
Musk’s wealth is largely tied to his stakes in Tesla, Inc. and SpaceX, along with other ventures including:
- Neuralink, the neurotechnology company
- The Boring Company, focused on tunneling and infrastructure
He has long held the position of the world’s richest individual, first overtaking Amazon founder Jeff Bezos in 2021.
SpaceX’s expansion ambitions drive valuation
The Tesla CEO has previously said SpaceX went public to fund its long-term ambitions, including deploying satellites and data centres in space.
Musk has also outlined plans for human expansion beyond Earth, including establishing a presence on Mars.
'Make life multi-planetary,' says Musk
Reiterating his long-term vision, Musk has consistently emphasised the goal of making humanity a multi-planetary species.
“Not just a few astronauts, I mean literally you,” Musk said in a past statement. “Whoever you are watching this, SpaceX wants to be able to take you to the moon, take you to Mars and ultimately beyond.”