Musk’s company has surpassed Amazon and made it into the top five most valuable companies in the world
17 June 18:52
SpaceX, founded by Elon Musk, has made an incredible leap in the financial market, outperforming giants such as Amazon. Following its stock market debut, SpaceX shares rose 13% at the opening of trading on the Nasdaq on Tuesday, June 16.
This was reported by The Guardian, as cited by "Komersant Ukrainian".
The publication notes that at one point, the company’s market capitalization reached $2.97 trillion, surpassing Amazon’s $2.65 trillion, making SpaceX the fifth-largest company in the world by market capitalization.
Impact of the Cursor Deal
The rise in SpaceX’s stock price came amid news of a $60 billion deal to acquire Cursor, a startup that develops AI-based programming tools.
SpaceX is the parent company of Musk’s artificial intelligence project, xAI.
The integration of Cursor is expected to accelerate the development of AI-powered code-generation systems, which are already demonstrating high commercial effectiveness among competitors.
Musk’s business group also includes the rocket company SpaceX, the social network X, and the satellite manufacturer and internet provider Starlink, which currently remains the only consistently profitable division. According to the publication, in 2025, SpaceX reported a loss of $4.9 billion on revenue of $18.7 billion, while Amazon’s revenue was $717 billion and its net income was $78 billion.
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Elon Musk’s Growing Fortune
After SpaceX shares went public on Friday at $135 per share, their value rose by approximately 50%. This increase in market capitalization made Musk the world’s first “trillionaire,” with a net worth estimated at $1.1 trillion.
His net worth is currently estimated at approximately $1.3 trillion.
Overall, as of the close of trading in New York on June 15, the combined wealth of the world’s 500 richest people had increased by $336 billion, marking the largest single-day gain in recorded history.
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