Elon Musk's SpaceX takes off, worth more than $2.8 trillion

Elon Musk's SpaceX worth more than $2 trillion after stock market takes off like a rocket Sat 13 Jun 2026 at 8:12am In short: SpaceX shares began trading at $150, 11 per cent higher than estimated and continued to climb. It pushed the company to above $2 trillion ($2.8) valuation. Elon Musk became the world's first trillionaire. At the launch of trade, the share price took off like a rocket. Elon Musk's SpaceX, once a private company, is now officially trading on the stock market. It pushed the company to above $2 trillion valuation. Based in Texas, SpaceX operates rockets, spaceflight, telecommunications, and AI. But Musk now wants to establish a self-sustaining city on Mars with at least one million inhabitants and put data centres in space. "It's going to take a lot of technical innovation to make that happen," Bloomberg's Michael Hytha said. "And the capital expenditures are just amazing right now." Elon Musk said the company needed the cash to grow. "We are embarking on a new growth phase, and we need capital for that," he said. And a larger-than-normal, 30 per cent, of the share allocation has been set aside for mum and dad investors, worth around $US22.5 billion. "We think it's worth less than it's being sold for, but the ban of uncertainty here is enormous," Morningstar Equity Market Strategist Lochlan Halloway said. "Some shareholders will see value in it, some won't. "But I think we have to recognise here that the key point is a lot has to go right for this company, price where it is, to make sense as an investment," he said. Australian investors have been offered shares in the company and can buy SpaceX through a local stockbroker. But whether you choose to invest in Elon Musk's space mission or not, you'll still likely end up taking a stake in the company. "If their superannuation allocation has some exposure to the US, the NASDAQ, for example, passively involved in the US at index weight, they will pick up some SpaceX shares through this IPO process," Mr Halloway said. [That's] because it has been fast-tracked for inclusion into the NASDAQ, which means it's going to come on quicker than usual, and it might wind up in some Australian allocations in super or perhaps their direct shareholding accounts if they are subscribed through it directly." Mr Halloway said it's a "blockbuster" initial public offering (IPO). "We've got rockets, we've got AI, satellites, Elon Musk." "All of these things are coming together, a confluence of factors, just to make this an absolute blockbuster." Mr Halloway said the investment was not without risk. "You know, especially as I said with the core satellites business, which many people might be familiar with, it is a good business, and it's funding a lot of the other loss-maker bits." "We think that SpaceX stock is worth about half of what it's being sold at in the IPO. "But look, Musk has defied his doubters before, and he can build a business," he said.