Topline
Elon Musk's fortune swelled above $1.4 trillion on Tuesday as SpaceX shares extended a rally in their second full trading day, ranking Musk's rocket maker ahead of Amazon as the world's fifth-largest company by market value.
Shares of Elon Musk's rocket maker have soared by more than 30% since their trading debut.
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Key Facts
Shares of SpaceX rallied by just over 10% shortly after trading opened on Tuesday, raising its market value to about $2.77 trillion and ranking it ahead of Amazon ($2.6 trillion) as the fifth-largest company.
A further boost to SpaceX's stock marks a nearly 35% rally since its IPO on Friday, when shares closed up 19%, and surged another 19.5% on Monday.
The latest increase in SpaceX shares added $119.1 billion to Musk's net worth, which is now valued at about $1.4 trillion, ranking him more than $1 trillion ahead of Google cofounder Larry Page ($300.7 billion), who Forbes ranks as the world's second-richest person.
Musk holds 4.8 billion SpaceX shares, bringing his stake to about 38%, with an additional 350 million stock options with an exercise price of $8.40 per share.
what to watch for
SpaceX may soon challenge Microsoft as the fourth-largest company, falling behind the software giant's market value of $2.92 trillion. Apple is the next largest with a market capitalization of $4.3 trillion, followed by Alphabet at $4.4 trillion. Both trail Nvidia at $5 trillion.
tangent
SpaceX disclosed to the Securities and Exchange Commission on Monday that it would acquire the AI coding platform Cursor's parent company, Anysphere, for $60 billion. SpaceX said it anticipated the deal closing by Q3 2026. Cursor and SpaceX announced a partnership in April, saying they would work together on “coding and knowledge work AI,†and SpaceX said at the time it reserved the right to pay Cursor $10 billion or outright buy the company for $60 billion.
key background
A meteoric rise in SpaceX shares follows its blockbuster stock debut last week, underpinned by record-setting investor demand that boosted its IPO to $85 billion. Musk has pitched his company hitting $1 trillion in revenue by 2030, a reversal from the $18.7 billion recorded in all of 2025, despite a net loss of $4.9 billion in the year and $4.28 billion through its latest quarter. Some analysts have disputed SpaceX's market valuation, including “Big Short†investor Michael Burry, who has claimed there was “nothing†in SpaceX's IPO paperwork that suggested the company was worth $1 trillion or even $2 trillion.
