SpaceX IPO Mints the First Trillionaire the Same Year Millions Lost Food Aid

SpaceX raised about $75 billion in the largest IPO ever and likely made Elon Musk a trillionaire, in a year when 4.3 million Americans came off SNAP.

SpaceX IPO Mints the First Trillionaire the Same Year Millions Lost Food Aid SpaceX raised about $75 billion in the largest IPO ever and likely made Elon Musk a trillionaire, in a year when 4.3 million Americans came off SNAP. Aaron Rafferty June 19, 2026 Key Takeaways SpaceX closed its first trading day on June 12 up 19 percent at $160.95, near a $2.3 trillion valuation, after the largest IPO in history. The roughly $75 billion raise likely made Elon Musk the world's first trillionaire, based on the size of his stake. The milestone landed the same year 4.3 million Americans came off SNAP and food banks reported record demand. SpaceX went public on June 12, and the numbers broke records. The stock priced at $135 a share, opened at $150 on the Nasdaq under the ticker SPCX, touched $176 in midday trading, and closed up 19 percent at $160.95, pushing the company toward a $2.3 trillion valuation, TechCrunch reported . The raise came in around $75 billion, the largest initial public offering in history, and the deal was oversubscribed four times over. NPR and others noted the listing likely made Elon Musk the world's first trillionaire, an estimate that rests on the size of his stake rather than a confirmed net worth. The case Musk's defenders make is that scale on this order is only justified when it is aimed at problems markets usually ignore, reusable rockets, global satellite internet, and the long shot of a second planet. SpaceX has delivered on the first two, and Starlink remains its one consistently profitable segment.' — (@) The Same Year, Millions Lost Food Aid The most notable part of this is the timing. The same stretch that minted a trillionaire was the stretch that pulled food off the table for millions. USDA data showed roughly 4.3 million