SpaceX leapfrogs Amazon at $2.7T market cap, makes Musk worth $1.27T

SpaceX shares jumped 11% Tuesday, pushing its market cap past $2.75T and overtaking Amazon to become the world's fifth-most-valuable company three trading days after its IPO. It briefly passed Microsoft mid-morning. Musk's net worth hit $1.27T, more than triple second-place Larry Page. The rally is striking given SpaceX posted a $4.9B loss on $18.7B revenue in 2025, while Amazon earned $77.7B on $717B in sales. Retail investors poured $225M in net buying over two days, about 75% of all single-stock buying market-wide. Only 4% of SpaceX's shares trade publicly; the rest unlocks in roughly a week.

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