Elon Musk, the world’s richest man and the first person in recorded history to become a trillionaire, has said his rocket company SpaceX could generate $1 trillion in revenue by 2030.

He made the projection just two days after the company’s stock market debut valued it at over $2 trillion.

Musk made the statement on Sunday, days after SpaceX went public, telling followers on X that he would not be surprised if the company’s revenue surpassed $1 trillion by 2031.

What he is saying

Elon Musk made the statement while replying to journalist and financial commentator Jon Erlichman on X. The trillionaire gave a specific timeline for when he expects SpaceX’s revenue to cross the trillion-dollar mark.

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  • “I think SpaceX might be able to reach approximately $1T revenue in 2030” he wrote.
  • “And I would be surprised if revenue is not greater than $1T in 2031,” he added.

The remarks come as SpaceX cements its position among the largest publicly traded companies in the United States, with its valuation continuing to climb in the days following its listing.

Get up to speed

Musk’s company, SpaceX, went public days ago on June 12, and its public listing was one of the largest in market history.

  • The rocket company made history after it officially began trading in what became the largest initial public offering (IPO) ever recorded on Wall Street. The company’s shares opened at $150 each, which was an 11% jump from its $135 IPO price.
  • By the end of its first trading session, the stock had climbed further to close at $160.95, delivering a 19% gain and pushing SpaceX’s market valuation beyond the $2 trillion mark.
  • SpaceX’s valuation pushed Musk’s net worth across the trillion-dollar threshold and made him the first individual in history to hold that level of personal wealth.

Following its public listing, SpaceX became the sixth-largest company in the United States by market capitalisation, placing it among the ranks of the country’s most valuable publicly traded firms within days of its debut.

What you should know

Nairametrics had earlier reported that Elon Musk had become the first-ever person in recorded history to hit the incredible net worth of $1 trillion.

According to a Forbes report, the trillion-dollar business magnate achieved the milestone after SpaceX shares opened trading on the Nasdaq at $150 per share, well above the $135 IPO price set just a day earlier.

SpaceX’s opening price implied a market capitalisation of nearly $2 trillion for the rocket and space exploration company, placing it among the most valuable businesses ever listed on a public exchange.