SpaceX IPO raises $75bn, makes Musk world's first trillionaire

SpaceX, the aerospace company founded by Elon Musk, completed its initial public offering on Friday, becoming the largest IPO in history and raising $75 billion. The company's shares opened for trading on the Nasdaq exchange under the ticker symbol SPCX, with shares initially priced at $150 before closing at $135 on the first day.

The debut triggered a significant milestone: Musk's personal net worth surpassed $1 trillion, making him the first individual in recorded history to achieve this level of wealth. The market response to SpaceX's listing was robust.

Share prices climbed approximately 22 to 23 percent above the initial offering price during opening trading, according to reports from both sources. This strong performance valued the company at over $2 trillion, positioning SpaceX as the sixth-largest publicly traded company in the United States.

The company's operations span multiple sectors including rocket technology, internet services, and artificial intelligence ventures. Prior to this transaction, Musk's documented net worth stood at approximately $813 billion, according to wealth tracking data cited in the reports.

His previous standing as the world's richest person was built largely through his holdings in multiple companies including Tesla and other ventures. The addition of SpaceX's valuation through the IPO accelerated his passage into trillionaire territory.

The IPO represents a watershed moment for the space technology sector and reflects investor appetite for companies operating at the frontier of advanced industries. SpaceX's public debut follows a period of successful private operations and precedes anticipated initial offerings from other artificial intelligence-focused companies.

The company has indicated plans to expand its infrastructure and operations globally through the capital raised in the listing.