Elon Musk Becomes World's First Trillionaire with SpaceX IPO

On Friday, Elon Musk, the founder and CEO of SpaceX, became the first person in history to surpass a net worth of $1 trillion, as reported by CNN. This milestone was driven by SpaceX's initial public offering (IPO), which debuted at a price of $135 per share.

Following the IPO, SpaceX's shares traded under the ticker symbol SPXC on NASDAQ, climbing 165% shortly after the market opened, approximately 22% above the IPO price. This surge lifted SpaceX's valuation to over $2 trillion.

Musk's estimated fortune now stands at $1 trillion, significantly larger than that of the second richest person, Google co-founder Larry Page, whose wealth is approximately $288 billion. Musk's net worth exceeds the combined wealth of the next three individuals on the Bloomberg Billionaires Index, which includes Larry Page, Sergey Brin, and Oracle founder Larry Ellison.

SpaceX is now ranked as the sixth largest publicly traded company in the United States, following giants like Nvidia, Alphabet, Apple, Microsoft, and Amazon.