SpaceX Rally Pushes Musk Past $1.3 Trillion

Musk’s fortune rose by about $165 billion in a single day, a one-day gain larger than Bill Gates’ entire net worth. The jump came after SpaceX stock rocketed roughly 20% on its second full trading day, lifting the company’s market capitalization to about $2.52 trillion and Musk’s personal wealth to an estimated $1.3 trillion.

SpaceX debuted on the Nasdaq under the ticker SPCX after pricing its IPO at $135 per share, raising about $75 billion at a valuation near $1.77 trillion. The offering was reportedly four times oversubscribed, drawing more than $350 billion in demand against the planned raise. By Monday’s close, shares had climbed as high as $229.40, briefly giving SpaceX an indicated market cap above $3 trillion.

Investor Anthony Pompliano captured the scale of the move in a post on X, stating:

“SpaceX hit $3 trillion market cap today. This means Elon Musk made more money in the last 24 hours than Warren Buffett made in his entire lifetime.”

A One-Man Wealth Index

At roughly $1.3 trillion, Musk’s fortune is worth around 65% as much as the next nine richest people combined. The bulk of that wealth is now tied to SpaceX, which closed its first trading day valued at about $2.1 trillion and ranked among the largest U.S. companies by market value within hours of listing.

The listing has drawn institutional money at speed, with Cathie Wood’s ARK Invest buying nearly 3.3 million SpaceX shares across three exchange-traded funds (ETFs) shortly after trading began. She cited exposure to Starlink broadband, rocket reusability and the company’s artificial intelligence-linked infrastructure plans as her primary motivators.

Also, an 8% jump earlier in the week tested a $2.28 trillion market cap, underscoring the fear-of-missing-out driving the stock. The frenzy also fed a theory among crypto traders that IPO mania across SpaceX, OpenAI and Anthropic is draining cash from digital assets, as investors chase equity exposure to the same growth narratives that once flowed into tokens.

A Bitcoin Angle Wall Street Is Watching

Bitcoin.com News reported earlier that SpaceX holds 18,712 BTC, putting the company squarely on Wall Street’s radar as one of the largest corporate holders of bitcoin. Combined with Tesla’s 11,509 BTC, Musk-linked firms control more than 30,000 BTC. In fact, crypto asset manager Grayscale had predicted in May that SpaceX was poised to become the most valuable public company holding BTC once it went public.

That said, not everyone is convinced the rally is sustainable. Skeptics argue that SpaceX’s valuation has outrun its fundamentals, comparing the broadband-heavy business unfavorably to early Amazon and warning that the premium could compress once post-IPO momentum fades and lockup-driven selling emerges.

Buying SPCX at last week’s debut, however, would have already outperformed five years of holding ETH, a comparison that has not gone unnoticed among traders (most of whom are weighing where the next wave of capital will flow). In any case, the next test will be whether SpaceX can hold its trillion-dollar premium as the initial euphoria cools.