Mark Cuban predicted that AI would lead to the world’s first trillionaire, and now it has.
Elon Musk founded SpaceX in 2002, and the company claims to be the first of its kind to build “the integrated hardware and software infrastructure of the future across space, connectivity, and AI,” according to a press release. As AFROTECH™ previously reported, SpaceX designs, manufactures, and launches reusable rockets and spacecraft. This includes the Dragon spacecraft, which is the first private spacecraft to take people to the space station, according to its website.
SpaceX recently completed its initial public offering (IPO). Gross proceeds from the IPO to SpaceX were nearly $85.7 billion, according to the press release. It began trading on the Nasdaq Global Select Market and the Nasdaq Texas on June 12, 2026.
SpaceX’s first day of trading as a public company valued it at nearly $2 trillion, according to Forbes.
Musk has a 38% stake in SpaceX and has become a trillionaire as a result. He is also the co-founder of seven companies, including Tesla and xAI. He acquired Twitter, now known as X, from Jack Dorsey in 2022.
Musk’s net worth currently stands at $1.3 trillion (as of this writing).
$85.7B Raised
TechCrunch reports that proceeds from the IPO will help eliminate nearly $20 billion in debt related to loans to X and xAI. The debt was merged into SpaceX before the IPO.
SpaceX has raised $85.7 billion, up from the $75 billion it raised from its IPO, TechCrunch reports. The earnings will be used to expand SpaceX’s AI compute infrastructure. SpaceX has been renting computing space from big tech companies such as Google for billions of dollars each month, according to Barron’s, as it seeks to deploy orbital AI data centers by 2028.
The earnings will also support Starlink, marketed as “the world’s most advanced satellite constellation,” using low Earth orbit for broadband internet, per the company’s website.
