Yesterday, Elon Musk became the world's first trillionaire after SpaceX's initial public offering on Nasdaq sent shares surging over 20%, lifting the rocket company's valuation beyond $2 trillion, according to the report. The IPO, the largest globally, attracted international investors including £270 million from UK buyers despite SpaceX burning billions annually. Musk participated remotely from Texas, reiterating his goal of a million-person Mars colony as part of his vision to make humanity multi-planetary.

The $135-to-$160 surge that minted the first trillionaire

SpaceX shares opened at $135 and quickly rose above $160, driving the company's valuation from $1.8 trillion to over $2 trillion. The surge immediately boosted Musk's personal wealth past the trillion-dollar mark, thanks to his substantial stake in the company. The source notes that Musk's trillion-dollar status allows him to buy every major sports team multiple times, wipe out national debts of countries like Singapore and South Korea, or solve world hunger according to Oxfam's estimates. These comparisons highlight the concentrated wealth amassed from a single day of trading.

Why UK buyers put £270 million into a still-loss-making SpaceX

Despite SpaceX burning billions of dollars annually, UK investors purchased about £270 million worth of stock in the IPO. The report attributes this to investor faith in the so-called 'Musk premium' — the belief that Musk will achieve even the most outlandish goals.. The company's 200,000-word prospectus outlines plans for space-based AI data centers and a $7.5 trillion valuation target, but the near-term financials show losses.. As the source notes, the event underscores investor confidence in long-term space ambitions, raising questions about market exuberance for loss-making firms pursuing transformative goals.

From a 10% chance to a $2 trillion valuation: SpaceX's two-decade trajectory

Musk founded SpaceX in 2002, initially giving it only a 10 percent chance of success .. Today, the company is a dominant player in commercial launches and a key NASA partner. The IPO's success reflects tangible progress in rocket reusability and satellite deployment via Starlink, which is generating growing revenue. The report frames SpaceX's journey as combining Tesla's automotive success with a disruptive approach to the space industry, and the trillion-dollar milestone adds another extraordinary chapter to Musk's career . This context shows that while the valuation seems speculative, it builds on years of real engineering achievements.

The unanswered question of a million-person Mars colony by when?

Musk's vision includes a permanent human colony on Mars with at least one million inhabitants, framed as a safeguard against existential threats. However, the source does not provide a specific timeline for this goal, leaving the question open. The path involves immense technical, physiological, and financial hurdles, including developing spacecraft capable of ferrying large numbers, sustaining life on Mars, and navigating regulatory and ethical challenges. The report notes that investors who rushed in during the frenzy will be watching closely for progress toward those audacious goals that justified the historic valuation. Without clear milestones, the timeline remains the biggest unknown.