The headline number this week is $1.75 trillion. That is the valuation placed on Elon Musk's SpaceX when it first listed its shares on the Nasdaq stock exchange. In a single day, not only the entrepreneur himself but also thousands of company employees became wealthy. However, Musk's opponents are already predicting a global collapse. Details in a report by REN TV correspondent Evgenia Vlasova.
Musk's ego has now truly reached cosmic proportions. He has made history once again. The whole world is watching as the first trillionaire in history is born. This status, of course, is still a pure formality. A substantial part of Musk's unprecedented wealth lies in assets and shares, whose total value at the initial public offering on the Nasdaq was estimated at $1.75 trillion. Musk himself is trying to play humble.
"I find it hard to believe that a small company that started in a single warehouse in El Segundo has conducted the largest IPO in history. I gave SpaceX a 10% chance of success, and I myself can't believe we pulled it off," Musk said.
Of course, it wasn't just a small warehouse, but also substantial capital that his family prepared before releasing him into the free world of business. This is part of the American PR about the American dream. Ahead of the IPO, the PR machine was cranked up to full power. Social media was flooded with dozens of stories about how ordinary welders, engineers, and electricians became dollar millionaires overnight thanks to SpaceX, simply because they had started buying company shares early.
"I'm an immigrant, and I've always worked hard. I was taught to give my all. I'm glad I now see light at the end of the tunnel," said SpaceX welder Juan Hernandez.
In the heart of New York, at Times Square near Nasdaq headquarters, a protest rally was held alongside a giant statue of Musk – shirtless and with mocking tattoos. The businessman is accused of unethical behavior over pornographic videos generated by his neural network, as well as overly authoritarian management of his companies. Activists who decided to respond to the world's richest man in this way have received reasoned support from Wall Street financial sharks.
"Musk argues that the value of his companies is far higher than the results they have actually achieved so far. He sells a dream and does it better than anyone in human history," said financial analyst Corey Johnson on CNN.
This is confirmed by SpaceX's latest financial results – the company is deeply unprofitable despite an abundance of government contracts. In 2025, for example, it posted a loss of nearly $5 billion. In the first quarter of 2026 alone, it lost another $4 billion. Analysts are convinced that everything is held together by Musk's personal charisma.
"Tesla, like Musk's other companies, does not trade on fundamental metrics. They trade on his name, and he sometimes makes sharp statements that immediately affect the stock," noted correspondent Kelly O'Grady.
Critics have pointed out that Musk has used SpaceX as a "personal piggy bank" for years, lending to his other projects and shifting problematic assets onto the company's balance sheet. Therefore, they do not rule out that after such an unprecedented start, the market may face a very harsh cooling-off period.