Elon Musk became the world’s first trillionaire as shares of SpaceX surged 23% to $166.49 apiece during its first day of trading on the Nasdaq on Friday.
Musk’s aerospace and connectivity company, which has a market capitalization of $2.09 trillion, started trading under the ticker symbol ‘SPCX’ following the biggest initial public offering ever. In a Thursday SEC filing, the company said it was raising $75 billion, offering 555.6 million shares at $135 apiece in its IPO.
In addition to Musk becoming the world’s first trillionaire, a number of Hollywood heavyweights could capitalize off of SpaceX’s stock market debut, including K5 Global’s Michael Kives, whose bio states he was an early investor in SpaceX. Page Six reports that WME Group CEO Ari Emanuel, “The Apprentice” creator Mark Burnett and CAA CEO Bryan Lourd are also investors.
Representatives for K5 Global, Emanuel, Lourd and Burnett did not immediately return TheWrap’s request for comment.
According to SpaceX’s prospectus, the company generated $4.7 billion in total revenue and an operating loss of $1.9 billion in the first quarter. For 2025, total revenue came in at $18.67 billion with a loss of $2.59 billion. The Space and Connectivity segments make up the substantial majority of SpaceX’s revenue, reporting $4.1 billion and $3.3 billion, respectively, in 2025.
As of March 31, Starlink had approximately 9,600 satellites in Low-Earth Orbit, which provide internet connectivity to 10.3 million subscribers across 164 countries, territories, and other markets. It also began deploying Starlink Mobile in 2024, which provides satellite-to-mobile data, over-the-top voice, and messaging services to approximately 7.4 million monthly unique devices across approximately 30 countries.
SpaceX also operates integrated AI platforms across Grok and X, which reported 1.3 billion supported accounts active in the last 12 months, including approximately 550 million monthly active users. Of its MAUs, 117 million used Grok’s AI features. The AI segment generated $818 million in revenue and a loss of $2.5 billion for the three-month period ending March 31 and $3.2 billion in revenue and a loss of $6.36 billion in 2025.
