Elon Musk becomes world’s first trillionaire

Elon Musk became the world’s first trillionaire after SpaceX completed the largest initial public offering in history, with investors pushing the rocket and satellite company’s market value to about $2.1 trillion on its first day of trading.

Shares of SpaceX closed at $160.95, up more than 19 per cent from their IPO price of $135, capping one of the strongest major market debuts in recent



years. The surge lifted the value of Musk’s stake in the company and cemented his position as the wealthiest person in history.

SpaceX shares gained 19 per cent on their first trading day following Wall Street’s biggest-ever IPO, valuing the company at more than $2 trillion. CNN reported that Musk, who owns nearly half the company, became the world’s first trillionaire as a result of the listing.