Elon Musk Becomes First Trillionaire with SpaceX IPO
Elon Musk made history as the world's first trillionaire with the IPO of SpaceX, which debuted on Nasdaq. The shares opened at $150 and closed at $135, marking a significant milestone for the company.
The IPO raised $75 billion, positioning SpaceX as the sixth-largest company in the United States by market capitalization, valued at over $2 trillion. Despite posting a loss of nearly $5 billion last year, SpaceX's performance has drawn significant investor interest, reflecting Musk's visionary leadership.
The IPO culminated a long-held ambition of Musk in space technology and is expected to attract retail investors. SpaceX President Gwynn Shotwell and Chief Financial Officer Bret Johnsen rang the Nasdaq opening bell, celebrating the event.
The IPO's success is anticipated to reshape investor portfolios and create new demand for SpaceX shares, especially with expectations of fast-tracked inclusion in major indices like the Nasdaq 100.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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