U.S. — Elon Musk's net worth reached $1.05 trillion on June 12, 2026, following SpaceX's stock debut, but remains tied to unvested shares that cannot be sold for at least one year, per BBC reporting. As of September 2026, Forbes estimates Elon Musk's net worth to be US$908 billion.

IPO underwriters assigned a valuation of $1.75 trillion to SpaceX during the offering process. Morgan Stanley served as a lead book-running manager for SpaceX's $75 billion IPO, alongside Goldman Sachs, and was among the top underwriters handling the offering, per SpaceX's investor relations release.

SpaceX has a market capitalization of approximately $1.97 trillion. Elon Musk is the CEO of SpaceX and holds 82.4% of the voting power in the company through his Class B shares, allowing him to unilaterally control board elections and company direction post-IPO, as disclosed in SpaceX's S-1/A filing.

SpaceX stock has a weight of 1.25% in the Nasdaq-100 index. The weight is expected to increase to 2.25% following rebalancing. JPMorgan estimates a potential $15.5 billion in passive inflows to SpaceX stock following a Nasdaq-100 rebalancing on September 21, 2026.

More than 1 billion SpaceX shares are expected to become available for sale by the end of October 2026. A tranche of 1.3 billion SpaceX shares could hit the market after the company posts its third-quarter results in November 2026.

Moody's assigned an investment-grade credit rating to SpaceX, though the company is not expected to be cash flow positive for years. Morgan Stanley analysts estimate SpaceX will burn an average of $84 billion per year until 2035. Analysts do not expect the company to generate positive free cash flow until 2035.

Morgan Stanley analyst Adam Jonas has a $300 price target on SpaceX stock. David Einhorn stated in a letter to Greenlight Capital shareholders that he believes the $1.75 trillion valuation assigned to SpaceX by IPO underwriters is too high.

"We can't find any other examples of investment-grade ratings being awarded to a company with a multiyear forecast of negative free cash flow and no history of generating free cash flow," David Einhorn said.

Why It Matters

The SpaceX initial public offering represents a milestone in capital markets, creating the world's first trillionaire and establishing a new benchmark for aerospace valuations. The event shows the scale of private-to-public transitions for major technology and infrastructure firms.

The listing also tests market mechanisms for integrating large-cap newcomers into major indices. Nasdaq's Fast Entry rule facilitated rapid inclusion in the Nasdaq-100, driving passive inflows and affecting index composition. Future cash flow projections and lock-up expirations remain key factors for investors monitoring the stock's trajectory.

Timeline

Nasdaq implemented changes to its Nasdaq-100 inclusion methodology on May 1, 2026. On that same date, the exchange introduced a 'Fast Entry' provision allowing newly listed companies to enter the Nasdaq-100 on an expedited basis if their market cap ranks among the top 40 constituents. Under this provision, eligible companies are evaluated on their seventh trading day and added shortly thereafter. This rule change expedited SpaceX's inclusion in the index.

SpaceX conducted its initial public offering in June 2026. IPO underwriters assigned a valuation of $1.75 trillion to SpaceX. The shares had an initial public offering price of $135. The SpaceX initial public offering transformed Elon Musk into the world’s first trillionaire.

What's New

Additional reporting reveals that he stated in a letter to Greenlight Capital shareholders that he believes the $1.75 trillion valuation assigned to SpaceX by IPO underwriters is too high. Einhorn stated in a letter to Greenlight Capital shareholders: "We can't find any other examples of investment-grade ratings being awarded to a company with a multiyear forecast of negative free cash flow and no history of generating free cash flow." Research titled "Extreme Founder Control, Agency Conflicts, and Initial Market Reactions: Evidence from the SpaceX IPO" was published in 2026 in Advances in Economics, Management and Political Sciences.

Elon Musk holds 82.4% of the voting power in SpaceX through his Class B shares, allowing him to unilaterally control board elections and company direction post-IPO, as disclosed in SpaceX's S-1/A filing.

How Sources Differ

Sources differ on details regarding the initial public offering. The SpaceX IPO prospectus states that SpaceX shares have an initial public offering price of $135.