World's first trillionaire
Elon Musk became the world's first trillionaire following the SpaceX IPO, though he has no more cash in the bank than before.
Snapshot · All-In with Chamath, Jason, Sacks & Friedberg
World's First Trillionaire, Anthropic Fable Banned, The New Oligarchs, Iran Peace Deal
Explore episode
Jun 19, 2026
Where this was said
SpaceX's record breaking IPO, $60B Cursor acquisition, and trillionaire reactions
At 18:40 · chapter starts 14:18
Sacks and Friedberg explain how wealth is created through machines that make stuff, defending Elon's trillionaire status against critics and debunking the lottery-winner narrative.
$85B raised in SpaceX IPO
SpaceX's IPO raised $85 billion, making it the largest IPO of all time — three times what Saudi Aramco raised in 2019.
SpaceX IPO 3x Saudi Aramco's 2019 raise
The SpaceX IPO at $85B raised three times the amount that Saudi Aramco raised in its 2019 IPO, previously the world record.
Stock up 19% to $161 on close
SpaceX stock closed up 19% on its first day of trading, reaching $161 per share from the $135 IPO price.
SpaceX briefly 4th most valuable company
SpaceX briefly surpassed Amazon and Microsoft to become the 4th most valuable company in the world after its IPO.
Chamath's Cursor Deal Prediction: Nailed It
Chamath predicted SpaceX would acquire Cursor on a stock-for-stock basis timed around the IPO, meaning Elon effectively paid $15B not $60B. The revenue also doubled, making this arguably the most sophisticated large-cap deal in tech history.
Cursor acquired for $60B (15x revenue)
SpaceX acquired Cursor for $60 billion, approximately 15 times Cursor's $4 billion in annual revenue.
Chamath: effective Cursor price was $15B
Chamath Palihapitiya calculated that because SpaceX's valuation doubled between deal negotiation and close, Elon Musk effectively acquired Cursor for $15 billion in real terms.
SpaceX IPO: 25 Years, Not an Overnight Success
SpaceX's $85B IPO was 25 years in the making with multiple near-death moments. The wealth Elon accumulated is a reflection of the value this machine will create for humanity for decades — not a lottery win.
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