SpaceX Completes Largest IPO in History; Musk's Net Worth Surpasses $1 Trillion

According to CNBC, SpaceX completed the largest IPO in history on June 12, pushing Elon Musk's net worth past $1 trillion. Musk and Google co-founder Larry Page are now the world's two wealthiest people, with Page's wealth estimated at just under $300 billion. Google holds approximately 4.9% of SpaceX, a stake valued at over $100 billion.

Just before the IPO, SpaceX announced a deal to lease AI compute capacity to Google for $920 million per month over 32 months. A Google Cloud spokesperson said the arrangement would "ensure we have bridge capacity to meet surging customer demand" for its Gemini Enterprise platform. Despite their personal relationship cooling over a decade ago, Musk's and Page's companies have become increasingly intertwined through investments and partnerships.