Elon Musk became the world’s first trillionaire on paper after SpaceX completed its record-setting stock-market debut on Friday, June 12, 2026. The milestone also renewed attention on the modest South Texas home Musk has described as his primary residence.

SpaceX IPO Makes Elon Musk the First Trillionaire

SpaceX priced its initial public offering at $135 per share, valuing the company at approximately $1.77 trillion before trading began. Shares, listed on Nasdaq under the ticker SPCX, closed their first session at $160.95, up about 19%, giving SpaceX a market value of roughly $2.1 trillion.

The increase pushed estimates of Musk’s net worth above $1 trillion because much of his fortune is tied to his stakes in SpaceX, Tesla and other companies. The figure represents estimated asset value rather than cash and could change substantially as publicly traded shares rise or fall.

Musk’s Boca Chica Home Returns to the Spotlight

The financial milestone has revived interest in Musk’s living arrangements near SpaceX’s Starbase operations in Boca Chica, Texas.

Musk said in 2021 that his primary residence was a property worth approximately $50,000 that he rented from SpaceX. Its location placed him close to the company’s Starship development and testing operations.

Reports have sometimes described the residence as a Boxabl prefabricated home. Musk, however, said the house where he lived was not built by Boxabl and that a Boxabl structure on the property served as a guest house.

In March 2026, Musk’s mother, Maye Musk, described an austere visit in a post on X. She said the refrigerator contained no food, she slept in a converted garage area and the bathroom had only one towel.

Musk sold much of his California real estate after announcing in 2020 that he planned to own no house. His association with the modest Texas residence now presents a striking contrast with the fortune generated by SpaceX’s public debut. However, his trillion-dollar status remains largely dependent on fluctuating stock valuations.