Updated Jun 13, 2026 – 12.15am, first published at 12.06amKey Posts12 mins ago — 12.11AMSpaceX IPO said to draw $US350b in demand20 mins ago — 12.03AMWelcome8 mins ago – 12.15AMAPElon Musk may never colonise Mars as promised, but enough investors consider the SpaceX founder to be a sort of miracle man that they’ll help him reach another fantastic goal Friday when he takes the rocket company public.The world’s richest man is set to become its first trillionaire.Known for his brilliant technology breakthroughs, as well as wild claims and missed deadlines, Musk is expected to break that trillion dollar mark in the biggest initial public offering ever as investors place bets on a company with losses as big as its ambitions. Ahead of the first trade in SpaceX, Forbes puts Musk’s net worth at $US982.6 billion ($1.4 trillion).Elon Musk has courted controversy on his way to becoming the world’s richest man. APIn addition to establishing a 1 million-person Martian colony, the company has promised to save humanity by establishing other outposts in space, launch data centres the size of football fields into orbit and outdo rivals Anthropic and OpenAI in the race to make money from artificial intelligence.To reach its goals, SpaceX needs billions more than it currently takes in from its rocket and satellite business. Between the start of 2025 and March 31, 2026, the company lost $US8.7 billion.Big institutional buyers and smaller-pocketed investors alike have indicated they are willing to take a chance, paying a high enough price for the 555.6 millions on offer to raise $US75 billion. That will easily top the current title holder, Saudi Aramco, the oil giant that raised $US26 billion in its 2019 initial offering.If the IPO goes off without a hitch, its value will come down mainly to one thing: Musk.The soon-to-be trillionaire — on paper at least — made his fortune by creating two companies, Zip2 and PayPal, that netted him about $US200 million at sale. He used that money to start SpaceX and invest in Tesla, and defied the odds by creating a space company that figured out how to reuse rockets and a car company that made electric vehicles cool.Fetching latest articles