(NEW YORK, US) – Elon Musk has become the world’s first dollar trillionaire after rocket and satellite company SpaceX made a record breaking debut on the Nasdaq stock exchange, drawing attention from global investors including emerging technology and telecommunications markets in Africa such as South Sudan.
SpaceX shares surged by 23 percent after trading opened in New York, rising from the initial public offering price of $135 to about $166.90 during afternoon trading. The sharp increase lifted the company’s market value to about $2.18 trillion.
According to Forbes estimates, Musk’s personal fortune rose to about $1.1 trillion following the market debut. The rise in wealth was mainly driven by his large ownership stake in SpaceX, together with his holdings in electric vehicle maker Tesla and other investments.
The company raised about $75 billion from the sale of 555.6 million shares during the public offering. Using South Sudan’s June 2026 market exchange rate of SSP 5,800 for one US dollar, the IPO raised approximately SSP 435 trillion. The amount exceeded the previous global IPO record set by Saudi Aramco in 2019.
SpaceX had earlier been valued at around $1.77 trillion when the IPO pricing was announced. Analysts said the strong investor demand reflected confidence in the company’s satellite internet operations, rocket launches, artificial intelligence related infrastructure and future space exploration projects.
Musk said the company decided to go public to raise funds for major expansion plans, including satellite deployment, construction of data centres in space related operations and long term ambitions to establish a human settlement on Mars.
The billionaire entrepreneur marked the start of trading by taking part in a bell ringing ceremony from Starbase in South Texas, where SpaceX operates its main launch and testing facilities. The company trades on Nasdaq under the ticker symbol SPCX.
Financial analysts said the IPO has become one of the most closely watched market events in recent years because it combines space technology, telecommunications, artificial intelligence and private infrastructure investment in a single business model.
The development is also being followed in African markets where governments and telecom operators are expanding digital infrastructure. In South Sudan, the growth of satellite communications and internet access has become increasingly important for banking services, humanitarian operations, aviation and oil sector logistics, especially in remote areas with weak fibre connectivity.
SpaceX’s Starlink satellite internet business has already expanded across several African countries, increasing interest among investors and policymakers about the role of private space companies in improving communications and digital trade across the continent.
Reuters and The Wall Street Journal described the IPO as a historic financial moment that pushed Musk beyond every previous wealth record. Forbes calculations showed that the IPO alone added nearly $188 billion to Musk’s fortune within a short period of trading activity.
Investors will now closely monitor whether SpaceX can maintain its market momentum as competition increases in satellite internet services, commercial rocket launches and artificial intelligence infrastructure markets.