SpaceX beats Amazon: Elon Musk adds more wealth in 3 days than No 2 billionaire's wealth

With Space Exploration Technologies Corp (SpaceX) climbing 5 per cent in overnight trade, the Elon Musk led company commanded a market capitalisation of $2.66 trillion, racing ahead of Amazon's $2.65 trillion market value. Elon Musk in fact has added more wealth in three days of SpaceX listing than what the second richest man in the world, Larry Page, is worth. The world's first trillionaire, sitting on a gigantic $696 billion in year-to-date gains, added $349 billion to his fortunes in the past three days than Larry Page's total wealth of $317 billion. Musk's gains in 2026 are more than combined fortunes added by two dozen top-performing billionaires! 

This included Larry Page's $48.30 billion gains this calendar, publicly available data with Bloomberg suggests. 

Elon Musk's wealth at $1.32 trillion is now higher than the combined fortunes of top billionaires such as Larry Page, Sergey Brin ($295 billion), Jeff Bezos ($268 billion) and Larry Ellison ($243 billion). 

SpaceX scripted history on June 12 as Elon Musk's rocket and satellite company debuted on Nasdaq following the world's largest IPO. The stock was listed at $150, a premium of 11.11 per cent over the issue price $135. At the listing price, SpaceX commanded a market value of $1.96 trillion, making Musk's a trillionaire. Musk owns 49 per cent of SpaceX and retains 82 per cent of the company’s voting power after the IPO.

On Tuesday, SpaceX settled 4.83 per cent higher at $201.80 against its previous close of $192.50. The scrip has hit a high of $225.64 during its short trading history and briefly moved ahead of Microsoft in m-cap race. 

The market value commanded by SpaceX has led many to question its valuation. Gurmeet Chadha, Co-Founder, Managing Partner and Chief Investment Officer (CIO) at Complete Circle, said in a recent post that SpaceX was valued at over $2 trillion despite generating annual revenue of $18.7 billion.

"We now need new valuation metrics, P/D: Price-to-Dreams Ratio," he said in a post on X.

Alternatively, he suggested "EV/EL: Enterprise Vision to Expected Losses... bigger the vision, higher the loss tolerance."

According to SpaceX's IPO prospectus, in the global satellite market, SpaceX holds an over 80 per cent global mass to orbit market share since 2023. Other key players of the satellite industry include Amazon and OneWeb. According to the prospectus, SpaceX occupies a unique position in the global space industry in building integrated hardware and software infrastructure of the future across space, connectivity, and AI. SpaceX has launched 10,000+ Starlink satellites as of the March quarter, and has set an aggressive target to launch 42,000 satellites by 2030E.

Given satellite constellation architectures have scaled up and diversified since 2015, the number of active maneuverable satellites in the orbit has increased from less than 1,000 in 2015 to 12,700 as of March 31, 2026, with nearly 75 per cent are owned and operated by SpaceX, as per SpaceX's IPO prospectus, Nomura noted.

As per teh foreign brokerage, SpaceX is planning to upgrade its current satellite to V3 later this year. This new generation represents a major architecture overhaul vs V2 Mini, according to SpaceX's IPO prospectus.

"A single V3 satellite deployment adds more capacity to the global network than an entire fleet of older variants. Each full Starship launch carrying V3 satellites injects 60 Terabits per second (Tbps) of capacity into the constellation – over 20 times the capacity added by a Falcon 9 launching V2 Minis," it noted.