Elon Musk becomes first trillionaire as SpaceX debuts on Nasdaq with $2.2tn valuation despite ongoing losses
By
Archie Mitchell, Kali Hays
Lightly browned and well buttered. A solid pick from the rack.
Summary
Elon Musk has become the world's first trillionaire, with a net worth of $1.11tn according to the Bloomberg rich list, following SpaceX's stock market debut on the Nasdaq with a valuation of $2.2tn. However, SpaceX is currently not profitable, having lost over $9bn in 2025 and 2026 due to massive spending on AI and infrastructure. The company's valuation is largely based on optimism about future earnings rather than demonstrated financial results. SpaceX's core business focuses on manufacturing reusable rockets and launching Starlink internet satellites.
Key quotes
· 3 pulledSpaceX's valuation is largely based on optimism about its potential future earnings, as opposed to financial results it has demonstrated so far.
It is currently not profitable, meaning it loses more money from its operations than it makes.
The company lost more than $9bn in 2025 and 2026 so far, according to its financial filings, due to its huge spending on AI and other infrastructure investments.
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